Loryn Arkow | Source | Partner at Stroock & Stroock & Lavan LLP

When a tenant files a bankruptcy petition, the tenant (either the bankruptcy trustee or the tenant as debtor-in-possession) has the option to accept or reject any unexpired lease within 120 days of the filing. A court may extend such period for up to another 90 days. Thus, a landlord may be left in limbo for up to seven months.