When I lease out a parcel of land, and the company or person who leases from me builds a building on the leased land, and eventually they no longer want to renew the lease, who takes responsibility of the building?
2007-02-13 12:04:16 · 5 answers · asked by Stay 3 in Business & Finance ➔ Renting & Real Estate
If the lease does not answer that, and there is no separate agreement regarding the building, you should get a new lawyer.
2007-02-13 12:09:36 · answer #1 · answered by thylawyer 7 · 1⤊ 0⤋
The general rule for a ground lease is that, if it is not specified either way in the lease, then the structures belong to the lessor when the lease terminates.
2007-02-13 13:43:14 · answer #2 · answered by Mr Placid 7 · 0⤊ 0⤋
You spend a lot of time in court.
If its a good building then the tenant sues for compensation. If its a liability then the owner sues to reimburse for demo.
Its a no win. Next time, use a better attorney.
2007-02-13 12:18:22 · answer #3 · answered by sdmike 5 · 0⤊ 0⤋
They move it or lose it.
2007-02-13 12:06:31 · answer #4 · answered by grouch2111 6 · 0⤊ 0⤋
um...moo??
2007-02-13 12:11:31 · answer #5 · answered by the waffle man 2 · 0⤊ 2⤋