President Bush signed the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 on April 20, 2005. While most attention has been directed to the Act's impact on individuals with consumer debts, the Act also addresses a number of issues relevant to business liquidations and reorganizations. With very few exceptions, the Act is effective on October 17, 2005. The following highlights a few changes that should be of particular importance to real property owners and lessors.