Commercial Mortgagor's Declaration of Covid-19-related Hardship - New York (Burmese)

This is a legal document that was released by the New York State Unified Court System - a government authority operating within New York.

The document is provided in Burmese.

FAQ

Q: What is a Commercial Mortgagor's Declaration of Covid-19-related Hardship?A: It is a declaration that a commercial property owner in New York can file if they are experiencing financial hardship due to Covid-19.

Q: Who can file a Commercial Mortgagor's Declaration of Covid-19-related Hardship?A: Commercial property owners in New York who are facing financial hardship because of Covid-19.

Q: What is the purpose of the declaration?A: To notify the lender of the owner's financial hardship and request possible forbearance or other relief options.

Q: What if I am a commercial tenant struggling to pay rent?A: This declaration is specifically for commercial property owners. You should reach out to your landlord or seek legal advice for assistance.

Q: What information do I need to provide in the declaration?A: The declaration requires information about the commercial property, the lender, details of the financial hardship, and supporting documentation.

Q: What happens after I submit the declaration?A: The lender will review the declaration and determine whether to offer forbearance or other relief options. It is important to communicate with your lender throughout the process.

Q: Is there a deadline for filing the declaration?A: As of now, there is no specific deadline mentioned. However, it is recommended to file as soon as possible to initiate the process of seeking relief.

Q: Can I be evicted if I file a Commercial Mortgagor's Declaration of Covid-19-related Hardship?A: Filing the declaration does not provide automatic protection against eviction. It is advised to seek legal advice to understand the specific eviction laws and protections in your area.

Q: What should I do if I need assistance with the declaration or my financial situation?A: You can consult a legal professional or reach out to organizations that provide free or low-cost legal services to help you navigate the process and understand your options.