Recourse On Renters For Selling Office Building
Q: There are two years remaining on the lease. However, the office building is up for sale. What recourse does renters have if the building is sold?
A: In Michigan, when you sell a property (mostly residential) & the are tenants still in the property under their existing lease, the lease is ‘transferred’ to the new owner with the property (just like they are part of the building) & all conditions, etc are part of that transfer. I suggest you 1st consult with the listing agent on that property & then, an Attorney. That way, you have no misunderstandings.
Related posts: