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11 U.S.C. § 1206 — Sales free of interests
Federal law — U.S. Code and appendices · legal_authorities
After notice and a hearing, in addition to the authorization contained in section 363(f), the trustee in a case under this chapter may sell property under section 363(b) and (c) free and clear of any interest in such property of an entity other than the estate if the property is farmland, farm equipment, or property used to carry out a commercial fishing operation (including a commercial fishing vessel), except that the proceeds of such sale shall be subject to such interest.
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Source file: Laws/federal/codes/united-states-code/title-11/section-1206-sales-free-of-interests--8ed45f9ba8.md
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Source location: Title 11, Chapter 12, § 1206; chapter-012-adjustment-of-debts-of-a-family-farmer-or-fisherman-with-regular-annual-income.md
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After notice and a hearing, in addition to the authorization contained in section 363(f), the trustee in a case under this chapter may sell property under section 363(b) and (c) free and clear of any interest in such property of an entity other than the estate if the property is farmland, farm equipment, or property used to carry out a commercial fishing operation (including a commercial fishing vessel), except that the proceeds of such sale shall be subject to such interest.
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** Except as provided in subsections (b) and (c) of this section, after the order for relief under this chapter, a creditor may not act, or commence or continue any civil action, to collect all or any part of a consumer debt of the debtor from any individual that is liable on such debt with the debtor, or that secured such debt, unless—
(1) such individual became liable on or secured such debt in the ordinary course of such individual’s business; or
(2) the case is closed, dismissed, or converted to a case under chapter 7 of this title.
**(b)** A creditor may present a negotiable instrument, and may give notice of dishonor of such an instrument.
**(c)** On request of a party in interest and after notice and a hearing, the court shall grant relief from the stay provided by subsection (a) of this section with respect to a creditor, to the extent that—
(1) as between the debtor and the individual protected under subsection (a) of this section, such individual received the consideration for the claim held by such creditor;
(2) the plan filed by the debtor proposes not to pay such claim; or
(3) such creditor’s interest would be irreparably harmed by continuation of such stay.
**(d)** Twenty days after the filing of a request under subsection (c)(2) of this section for relief from the stay provided by subsection (a) of this section, such stay is terminated with respect to the party in interest making such request, unless the debtor or any individual that is liable on such debt with the debtor files and serves upon such party in interest a written objection to the taking of the proposed action.
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Federal law — U.S. Code and appendices · legal_authorities
In this title the following definitions shall apply:
(1) The term “accountant” means accountant authorized under applicable law to practice public accounting, and includes professional accounting association, corporation, or partnership, if so authorized.
(2) The term “affiliate” means—
(A) entity that directly or indirectly owns, controls, or holds with power to vote, 20 percent or more of the outstanding voting securities of the debtor, other than an entity that holds such securities—
(i) in a fiduciary or agency capacity without sole discretionary power to vote such securities; or
(ii) solely to secure a debt, if such entity has not in fact exercised such power to vote;
(B) corporation 20 percent or more of whose outstanding voting securities are directly or indirectly owned, controlled, or held with power to vote, by the debtor, or by an entity that directly or indirectly owns, controls, or holds with power to vote, 20 percent or more of the outstanding voting securities of the debtor, other than an entity that holds such securities—
(i) in a fiduciary or agency capacity without sole discretionary power to vote such securities; or
(ii) solely to secure a debt, if such entity has not in fact exercised such power to vote;
(C) person whose business is operated under a lease or operating agreement by a debtor, or person substantially all of whose property is operated under an operating agreement with the debtor; or
(D) entity that operates the business or substantially all of the property of the debtor under a lease or operating agreement.
(3) The term “assisted person” means any person whose debts consist primarily of consumer debts and the value of whose nonexempt property is less than $150,000.11 See Adjustment of Dollar Amounts not
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Federal law — U.S. Code and appendices · legal_authorities
Page 297
TITLE 11—BANKRUPTCY
§ 1206
(Added and amended Pub. L. 99–554, title II, § 255,
title III, § 302(f), Oct. 27, 1986, 100 Stat. 3107, 3124;
Pub. L. 103–65, § 1, Aug. 6, 1993, 107 Stat. 311; Pub.
L. 105–277, div. C, title I, § 149(a), Oct. 21, 1998, 112
Stat. 2681–610; Pub. L. 106–5, § 1(1), (2), Mar. 30,
1999, 113 Stat. 9; Pub. L. 106–70, § 1, Oct. 9, 1999,
113 Stat. 1031; Pub. L. 107–8, § 1, May 11, 2001, 115
Stat. 10; Pub. L. 107–17, § 1, June 26, 2001, 115
Stat. 151; Pub. L. 107–170, § 1, May 7, 2002, 116
Stat. 133; Pub. L. 107–171, title X, § 10814(a), May
13, 2002, 116 Stat. 532; Pub. L. 107–377, § 2(a), Dec.
19, 2002, 116 Stat. 3115; Pub. L. 108–73, § 2(a), Aug.
15, 2003, 117 Stat. 891; Pub. L. 108–369, § 2(a), Oct.
25, 2004, 118 Stat. 1749; Pub. L. 109–8, title X,
§ 1001(a)(1), (c), Apr. 20, 2005, 119 Stat. 185, 186.)
Editorial Notes
CODIFICATION
For repeal of section effective Oct. 1, 1998, and subse-
quent reenactment of section, see note set out pre-
ceding section 1201 of this title.
Statutory Notes and Related Subsidiaries
EFFECTIVE DATES
Permanent reenactment of section effective July 1,
2005, see section 1001(a)(2) of Pub. L. 109–8, set out as a
Repeal, Reenactment, and Termination of Chapter note
under section 1201 of this title. For effective dates of
section and amendments extending periods for which
section was reenacted prior to permanent reenactment,
see Effective Date and Effective Date of 1999, 2001, 2002,
2003, and 2004 Amendment notes set out under section
1201 of this title.
§ 1205. Adequate protection
(a) Section 361 does not apply in a case under
this chapter.
(b) In a case under this chapter, when ade-
quate protection is required under section 362,
363, or 364 of this title of an interest of an entity
in
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