A Motion for Relief from Stay Regarding Collateral — Passive Notice is a legal document used in bankruptcy proceedings in which a creditor seeks permission from the court to take possession of a debtor's property that is used as collateral for a loan. This type of motion is generally used when the debtor has failed to make payments on the loan or has otherwise defaulted on the terms of the agreement. There are two types of Motion for Relief from Stay Regarding Collateral — Passive Notice: the "active" and "passive" notices. The active notice requires the debtor to respond to the motion within a certain period of time, whereas the passive notice does not require the debtor to respond. If the debtor fails to respond to the motion within the prescribed period, the court may grant the creditor's motion and allow them to take possession of the collateral.
Notice Of Motion Example
Description Motion Notice
How to fill out Motion For Relief From Stay Regarding Collateral - Passive Notice?
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