G GDUFFY Registered User Messages 193 11 Jul 2014 #1 If a persons landlord gets the leased shop repossessed ,does that leaseholder still have a valid lease with the bank ? Does the bank have to honor the terms of the lease or is it null and void ? Thanks.
If a persons landlord gets the leased shop repossessed ,does that leaseholder still have a valid lease with the bank ? Does the bank have to honor the terms of the lease or is it null and void ? Thanks.
M mf1 Registered User Messages 4,435 11 Jul 2014 #2 My understanding is that the Bank repossess the property subject to the Lease. In long term Lease situations it is usual to seek confirmation that a Mortgagee ( i.e. the Bank lender) is consenting to the creation of the Lease. mf
My understanding is that the Bank repossess the property subject to the Lease. In long term Lease situations it is usual to seek confirmation that a Mortgagee ( i.e. the Bank lender) is consenting to the creation of the Lease. mf