Schedule G - Executory Contracts and Unexpired Leases
INSTRUCTIONS : SCHEDULE G EXECUTORY CONTRACTS AND UNEXPIRED LEASES (Form B-6G)
• When filing for bankruptcy, there is a lot of paperwork required to initiate the filing process. Before your bankruptcy case can being, however, you must fill out the necessary forms and file them with the United States bankruptcy court for your respective district. Once the particular court has approved the filing, your bankruptcy case can begin. One particular form which commonly gives individuals trouble is the Form B-6G- Schedule G Executory Contracts and Unexpired Leases form. Although many filers have problems with this form, a few basic pieces of information will expedite this process.
Filling out the Bankruptcy Schedule G Form: • The Form B-6G-Schedule G possesses several components; the first part of the form features Executory contracts, which are in essence, contracts that have been signed where the individual promises to pay or receive payment for a service that will take place in the future. For example, hiring a contractor to build you a house, one from the agreement, would be a common example of an executroy contract. All contracts, that possess these characteristics, must be listed on this portion of them; additionally, when listing the contract, you are required to declare the relationship to the contract, meaning were you the purchaser or the contractor?
• The second part of the Form B-6G Schedule G will cover unexpired leases. These contracts refer to any rental or lease agreement where the person declaring bankruptcy is a fundamental part of; these agreements are active and must be renewed in writing. Examples of an unexpired lease will include, time share property, as well as numerous real estate transactions. Similar to the first part of the Schedule G, this portion will require you to fill in your relationship to the contract, when it is set to expire and other particulars associated with the form.