I have a structure on leased property!!?

Question

I have a structure on leased property on a private lake and the owner wants to terminate the lease agreement on it's renewal date.He has stated that,he wants the property for his own use.!!He wants me to dismantle the structure and remove it.This would be a great loss to my family and to me financially.!! Any help is welcome!! Thanks Ed

Answer 1

What governs this situation is either the contract you signed (first) and the real estate laws (second). If you have a contract that you both signed, you need to review that contract for information on structures or improvements made. Many lease contracts require approval for any improvements/buildings and specifcally state that upon termination of the agreement by either party, the structure or improvements must be removed unless doing so would reduce the property value.

If you don't have a contract or you do and there is no specific wording about structures then your local / county and state laws govern the dispute. However, these laws generally favor the land owner in these types of cases.

I see you have three options, 1) take the loss and tear down the structures, 2)negotiate with the land owner not to remove the structures and possibly receive some compensation or 3) enlist a Real Estate Attorney for his advice and representation.

Good luck and I hope this helps.

Answer 2

Ed, I would get to a real estate lawyer quickly and have that lease reviewed. Perhaps there is some right of renewal implied in it or some other way that you can save your investment. But speaking generally, a structure on leased land must be removed at your expense at the end of the lease unless the landowner simply wants to keep it. There will be state law and court decisions to be researched in the context of the particulars of your specific agreement and circumstances. Your local real estate lawyer will be the one to advise you. Even in the law is against you, your attorney might be able to negotiate a graceful exit or a new deal for you. Good luck.

Answer 3

Great loss or not, the property owner has the right to terminate the lease and have you remove or move the structure. If you bought or built this structure on a limited term lease, that was a GROSS error on your part.

Generally, when structures are built on leased land, the lease is written for at least the expected useful life of the structure.

I am assuming that your lease has no guaranteed right of renewal available to you.

Answer 4

You are out of luck since it is on leased property. You'll have to remove the structure as asked.

Answer 5

Real Estate Agents help clients sell their homes as well as buy homes.