The Oakland Michigan Voluntary Petition — Form 1 is a legal document used in the bankruptcy process by individuals or businesses residing in Oakland County, Michigan. This petition is filed to initiate a voluntary bankruptcy case under Chapter 7 or Chapter 11 of the United States Bankruptcy Code. Chapter 7 bankruptcy is commonly known as a liquidation bankruptcy. It involves the sale of non-exempt assets to repay creditors and receive a discharge of most debts. In contrast, Chapter 11 bankruptcy is typically utilized by businesses or individuals with high-value assets or complex financial situations. It allows the debtor to reorganize their debts and create a repayment plan while continuing their operation. The Oakland Michigan Voluntary Petition — Form 1 serves as the official request for bankruptcy protection. It outlines essential information about the debtor, their financial situation, and the type of bankruptcy being sought. Some crucial details included in this form are: 1. Debtor's Personal Information: This section includes the debtor's name, social security number or tax identification number, contact details, and any previous bankruptcy filings. 2. Bankruptcy Chapter Selection: Here, the debtor indicates whether they are filing for Chapter 7 or Chapter 11 bankruptcy. 3. Debtor's Prior Bankruptcy Cases: If the debtor has previously filed for bankruptcy, they must disclose the case number, filing date, and location. 4. Financial Statements: This part requires the debtor to list their assets, liabilities, income, expenses, and any outstanding obligations, such as taxes or child support. Detailed schedules and supporting documentation are usually attached to provide a comprehensive overview of the debtor's financial affairs. 5. Executory Contracts and Unexpired Leases: If the debtor has any ongoing contracts or leases, they must be disclosed in this section. 6. Statement of Financial Affairs: This section gathers additional information about the debtor's financial history, including details about their income, employment, and financial transactions leading up to the bankruptcy filing. By accurately completing the Oakland Michigan Voluntary Petition — Form 1, debtors can formally request bankruptcy protection from the court. It is crucial to provide truthful and comprehensive information, as any inaccuracies or omissions may jeopardize the success of the bankruptcy case. It's important to note that variations of the Oakland Michigan Voluntary Petition — Form 1 may exist depending on specific court requirements or updates to bankruptcy laws. However, such variations typically involve minor changes in formatting or additional local forms specific to Oakland County. Therefore, it is essential to consult the local bankruptcy court or an attorney to ensure you are using the most up-to-date and relevant version of the form for your specific needs.
Oakland Michigan Voluntary Petition - Form 1
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How to fill out Oakland Michigan Voluntary Petition - Form 1?
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Currently, Oakland requires landlords to pay qualifying tenants $7,447 to vacate a studio or one-bedroom unit, $9,166 to vacate a two-bedroom unit and $11,314 to vacate a three or more-bedroom unit.
Termination of tenancy requires a 30-day notice when no lease is in effect. When a landlord tenant judgment has been entered, the tenant has 10 days to pay the judgment amount or vacate the premises or a Writ of Restitution (writ to evict) will be filed.
Use this form to tell the court about any Social Security or federal Individual Taxpayer Identification numbers you have used. Do not file this form as part of the public case file. This form must be submitted separately and must not be included in the court's public electronic records.
The fee is currently $101. If the fee is paid on time, property owners are entitled to collect one half of the fee ($50.50) from the tenant(s) of the rental unit for which the fee is paid. The Rent Adjustment Program allows property owners to petition for pre-approval of a rent increase.
The Rent Adjustment Program (RAP) issues Certificates of Exemption for dwelling units that are permanently exempt from the Rent Adjustment Ordinance.
A voluntary petition is filed by a debtor who wants to make arrangements for the payment of debts and be relieved of liability for them. An involuntary petition is filed by a statutorily prescribed number of creditors whose aggregate sum of claims exceed a specific amount.
Within ten (10) days of service of a notice of eviction, a copy of the same notice and any accompanying materials must be filed with the Rent Board. Each notice will be indexed by property address. These notices are public record and are available for inspection during normal business hours.
Rent Adjustment Program Fee: Owners of rental property covered by the RAP Ordinance or the Just Cause for Eviction Ordinance must also file and pay an annual fee of $101 for each unit.
In Oakland, a property owner can only terminate a tenancy or evict a tenant for JUST CAUSE. A Notice to Terminate or Evict must specify one of the following eleven Just Causes: Failure to pay rent. Material violation of rental agreement after written notice to stop.
It costs either $240 or $385 to evict someone in California, depending on whether less than $10,000 is owed to the landlord, or more than $10,000 is owed. However, in Riverside County, it will cost $270 or $410, and in San Bernadino County it will cost $255 or $395.