What happens if title defects are discovered before closing under an executory real estate contract with a title contingency?

Jul 1, 2022 ... Executory costs include utilities, repairs, maintenance, insurance, common area expenses, and taxes paid for the leased asset during its ... This is an example of an executed contract; a contract in which the promises are made and completed immediately, like in the purchase of a product or service. If the settlement agreement was found to be executory then section 365 of the Bankruptcy Code would allow the contract to still be assumed. However, since these ... Executory contracts include any real estate transaction that defers material action by either party into the future. Any contract for deed, lease option, or ... The Bankruptcy Code refers to executory contracts in 11 USC § 365, it unfortunately does not provide a definition for this term. Dec 30, 2024 ... An executory contract is an agreement where both parties have ongoing obligations that have not yet been fully performed. The contract remains ... executory interests. (In all cases assume an initial feoffment to uses which is executed):. [p*422] (1) “To A for life, remainder one day after A's death to ... Mar 18, 2009 ... The bankruptcy trustee may either affirm and accept (assume) or terminate and surrender (reject) an executory contract or unexpired lease.17 The ... Dec 14, 2022 ... I. INTRODUCTION. Executory contracts are one of the most complicated and consequent- ial areas of bankruptcy law.1 Despite the importance of ... May 31, 2007 ... Background. In general, an accrual-basis taxpayer is allowed a deduction for an otherwise deductible expense in the period in which the ...