If the commercial business property I rent has been foreclosed on by a bank and sold to another party, what are my rights as a tenant?
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If the commercial business property I rent has been foreclosed on by a bank and sold to another party, what are my rights as a tenant?
Is the previous lease valid?
Asked on February 27, 2012 under Real Estate Law, Georgia
Answers:
Paula McGill / Paula J. McGill, Attorney at Law
Answered 12 years ago | Contributor
It all depends on your lease. Most commerical property leases has an assignment/transfer section that does not void the lease simply because the property is transferred.
You should take the document to an attorney to have him/her review it.
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