A sticky L/O question... - Posted by Russ Sims

Posted by Russ Sims on April 30, 1999 at 21:00:51:

Let’s suppose I L/O out to an investor, who does a sandwich lease with his/her tenant/buyer. The investor defaults on the lease payment to me, but his tenant/buyer stays current. How the heck would I evict? I can’t go after the residents because they are not in default with me, or with the investor. Would I just void the lease agreement with the investor, and resign with his/her T/B?..Can’t figure this one out.I know it’s a matter of time until someone asks me…

Oh, what the heck;as long as we’re playing “what ifs”: What if the investor’s T/B defaults, and therefor the investor defaults. Now who do I evict?

Thanks in advance!