What happen to all the tenants and their leases in a foreclosed commercial property? - commercial reo
I just want to know whether the lease excluded from commercial buildings (REO) remain valid and enforceable?
Sunday, February 7, 2010
Commercial Reo What Happen To All The Tenants And Their Leases In A Foreclosed Commercial Property?
5 comments:
Unfortunately, the tenants must move. It is marketed as.
Unfortunately, the tenants must move. It is marketed as.
Unfortunately, the tenants must move. It is marketed as.
Most leases of professionals have created a kind of subordinate clause in these ... In general, basically saying that, the foreclosure of the bank, more of a right of ownership to you.
This does not mean you will always be deported. The contract was valid and enforceable in most cases, it is worth only rent to the bank from the property until it is ruled out selling ... At this point, you pay the new owner. In most commercial buildings, the tenants are not much, except for some notice to make repairs if problems mermaids bank maintenance and other personnel.
Yes, lease now includes the new owner. The bank in most cases, and nothing will happen until we too find a new owner. They should continue to rent.
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