disguised installment sale

glossary /

disguised installment sale

Bankruptcy. A debtor’s leasing ploy to try to keep property outside the bankruptcy estate, whereby a lease either presents the lessee-debtor with a bargain purchase option or transfers title to the lessee-debtor at the end of the lease term.

? When such a lease is discovered, the property is treated as part of the bankruptcy estate, meaning that to defeat competing creditors, the lessor must have perfected a security interest. [Cases: Bankruptcy 3101; Secured Transactions 10. C.J.S. Bankruptcy ¡ì¡ì 108, 117; Secured Transactions¡ì¡ì 3, 7, 22¨C33.]

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