In the classic board game Monopoly, bankruptcy is a mechanism that comes into play when a player cannot afford to pay their debts to other players or the bank. When a player declares bankruptcy, it means they are unable to continue playing the game and are effectively eliminated from the competition. Here's a detailed breakdown of how bankruptcy works in Monopoly:

Insufficient Funds: A player may face bankruptcy if they don't have enough money to pay the required amount, such as rent, mortgage, or other debts. This can happen when they land on a property owned by another player or when they need to pay fees or fines.

Debt Settlement: If a player owes money and cannot pay, they have a few options to settle their debt. They can choose to mortgage properties, sell houses and hotels, or even trade properties with other players in an attempt to raise enough funds to cover their obligations.

Insufficient Assets: If a player's assets, including properties, houses, hotels, and cash, are not enough to cover their debts, they are considered bankrupt. At this point, they must follow the bankruptcy rules.

Bankruptcy Rules: Once a player declares bankruptcy, their financial resources are liquidated. This involves selling off their properties, houses, and hotels at a discounted rate to other players or returning them to the bank. The bankrupt player must sell their assets in an attempt to repay their debts.

Debt Priority: In monopoly go mod, there is a specific order in which debts must be repaid. First, the bankrupt player must repay any debts owed to other players. This includes unpaid rent or fees. Once those debts are settled, they must repay any outstanding debts to the bank, such as mortgage payments or fines.

Property Auction: If the bankrupt player owns any mortgaged properties or properties that are not mortgaged but have houses or hotels on them, these assets are put up for auction. The remaining players have an opportunity to bid on these properties, with the highest bidder acquiring the property. The proceeds from the auction are used to repay the bankrupt player's debts.

Elimination from the Game: After the bankrupt player has liquidated their assets, paid off their debts, and distributed any remaining funds, they are officially eliminated from the game. Their turn is skipped, and they no longer participate in any further gameplay.

Property Reversion: If a player goes bankrupt, all their properties revert back to the bank. These properties are then available for purchase or auction by the remaining players in subsequent turns.