O

Onerous Property

The term is used in context of bankruptcy or liquidation, and it refers either to contracts which are unprofitable, or to property which might be very hard to sale, or it will be entirely impossible to sale at all. The common feature of such contracts or properties is that they are unprofitable, so selling them might not bring any (or only a small amount of) extra money during the liquidation or bankruptcy. When it refers to a property, that specific property can be disclaimed by the liquidator.