Chapter 727 Law
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Introducing the 727 Law App, sponsored by Michael Moecker & Associates, Inc. The 727 App gives you access to the laws and statutes pertaining to Assignments for the Benefit of Creditors, and Receivership Law. But that's not all, check out the extra features of this unique reference app.
  • Simple navigation
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  • Search and Review Statutes.
  • Quick "flip" between books
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  • In-text links to related rules.
  • Available for the iPhone,iPod Touch, and iPad.
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What is Florida Chapter 727?

Florida Chapter 727 provides a stable procedure for the administration of insolvent estates, and to establish complete reporting to creditors and just distribution of assets in accordance to the priorities established. An Assignment for the Benefit of Creditors is a Florida Statutory procedure found in Florida Statutes 727. It is similar, but not identical to a Chapter 7 bankruptcy in Federal Court.

Who can file?

Any Florida registered company that is dealing with insolvency.

How does Florida Chapter 727 work?

After an assignment proceeding, an immutable assignment is executed in compliance with the state statutory requirements. The assignment and schedules are put in writing, and contain the name and contact information of the assignor. Under the terms of the assignment, the assignor releases to the assignee all of its assets, except those that are exempt by law. The assignee is required to take possession of the assets, and liquidate the assets of the estate in the interest of converting the estate into money.

What is a Receivership?

The purpose of a receivership is to preserve property during the time needed to prosecute a lawsuit. If a situation is present that the property in question would be dissipated or removed from the jurisdiction of the court, a receiver is appointed. Receivership takes place through a court order and is use only in exceptional circumstances and with or without the consent of the owner of the assets.

Is this something Michael Moecker & Associates, Inc. can do for me?

Yes. We specialize in Chapter 727 Assignments for the benefit of creditor and many other forms of insolvency.