727.103 Definitions. - Florida Statutes

727.103 Definitions.

As used in this chapter, unless the context requires a different meaning, the term:

   (1) “Asset” means a legal or equitable interest of the assignor in property, which includes anything that may be the subject of ownership, whether real or personal, tangible or intangible, including claims and causes of action, whether arising by contract or in tort, wherever located, and by whomever held at the date of the assignment, except property exempt by law from forced sale.

   (2) “Assignee” means a natural person solely in such person’s capacity as an assignee for the benefit of creditors under the provisions of this chapter, which assignee shall not be a creditor or an equity security holder or have any interest adverse to the interest of the estate.

   (3) “Assignor” means the person or entity that has executed and delivered the assignment to the assignee.

   (4) “Assignment” means an assignment for the benefit of creditors made under this chapter.

   (5) “Claims bar date” means the date that is 120 days after the date on which the petition is filed with the court.

   (6) “Consensual lienholder” means a creditor that has been granted a security interest or lien in personal property or real property of the assignor prior to the date on which a petition is filed with the court and whose security interest or lien has been perfected in accordance with applicable law.

   (7) “Court” means the circuit court where the petition is filed in accordance with s. 727.104(2).

   (8) “Creditor” means any person having a claim against the assignor, whether such claim is contingent, liquidated, unliquidated, or disputed.

   (9) “Estate” means all of the assets of the assignor.

   (10) “Filing date” means the date upon which the original petition is filed in accordance with s. 727.104(2).

   (11) “Lien” means a charge against or an interest in property to secure payment of a debt or performance of an obligation, and includes a security interest created by agreement, a judicial lien obtained by legal or equitable process or proceedings, a common-law lien, or a statutory lien.

   (12) “Liquidation value” means the value in cash obtainable upon a forced sale of assets after payment of valid liens encumbering said assets.

   (13) “Petition” means the initial document filed with the court, as set forth in s. 727.104(2), establishing the court’s jurisdiction under this chapter.

History. s. 3, ch. 87-174; s. 1, ch. 89-54; s. 3, ch. 2007-185.