18:51
medicine is a scam
Warning
Info
Warning
Info
LSDefine
Simple English definitions for legal terms
motion to lift the stay
Read a random definition: land cop
A quick definition of motion to lift the stay:
Term: Motion to Lift the Stay
Definition: A motion to lift the stay is a request made by a party to the bankruptcy court to change the automatic bankruptcy stay. This allows the party to take action against the debtor or the debtor's property. For example, a creditor may ask for permission to foreclose on a lien because their security interest is not adequately protected. This motion is also known as a motion for relief from stay or a motion to modify the stay.
A more thorough explanation:
A motion to lift the stay is a request made by a party to the bankruptcy court to modify the automatic bankruptcy stay. The automatic stay is a legal order that stops creditors from taking any action against the debtor or their property.
For example, if a creditor wants to foreclose on a property that the debtor owns, they may file a motion to lift the stay. This would allow the creditor to take action against the property and foreclose on it.
Another example is when a landlord wants to evict a tenant who has filed for bankruptcy. The landlord may file a motion to lift the stay to allow them to proceed with the eviction process.
In both examples, the motion to lift the stay is necessary because the automatic stay prevents creditors and other parties from taking action against the debtor or their property.