RoaldDahl
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LSDefine
Simple English definitions for legal terms
motion to modify the stay
Read a random definition: reaffirmation hearing
A quick definition of motion to modify the stay:
A motion to modify the stay is a request made by a party in 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 lift the stay.
Simply put, it's a request to change the rules so someone can take action against the person who owes them money.
A more thorough explanation:
Definition: A motion to modify the stay is a request made by a party to the bankruptcy court to alter the automatic bankruptcy stay. This allows the party to take action against the debtor or the debtor's property. For example, a creditor may seek permission to foreclose on a lien because their security interest is not adequately protected.
Examples:
- A creditor files a motion to modify the stay to foreclose on a property that the debtor has not been making payments on.
- A landlord files a motion to modify the stay to evict a tenant who has not been paying rent.
These examples illustrate how a party can request to modify the automatic stay in order to take action against the debtor or their property.