Colli Real Estate

commercial leases large changes ownership level before foreclosure?

Commercial leases to a junior grade involved in a foreclosure apparently missing. But the leases of senior notes would be maintained. Is that correct? Does the fact that a lease has been registered with the act itself in the register of deeds is effective? Or even recorded with the deed of lease be eliminated if you lower foreclosure? Contracts rentals are well before – much higher level – a change of ownership (with the new owner is the loss of his property cons) Safe to be affected by the disaster except the new owner? Someone knows something about the relevant case law or regulations thank you for Massachusetts? "

The lease is a contract between a landlord and a tenant. When a property is excluded from ownership changes and cancels the contract. The leases are not a lein against the property for non-senior or junior in terms of ownership. As a tenant you will be informed of execution mortgage. You can request a new lease with new owner in the same or greater potential she received. Commercial property is generally easier to sell if you're busy so different from the non-residential property is not a real reason why the bank wants to withdraw if you must.

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