Posted by JohnBoy on April 19, 2002 at 20:35:36:
What makes you feel this would be a setup for his company to go BK?
If his his company did file BK then they would either file chapter 11 where they may plan to stay and would continue to pay rent or file chapter 7 and vacate. You would then need to find another tenant to lease the space to. But what makes you think they are planning to go BK?
Lease question - Posted by Scott Woods
Posted by Scott Woods on April 19, 2002 at 20:11:44:
I am looking into buying a commercial property from a landlord that also owns a company that leases 2/3 of the building. I have looked at the lease and it clearly states that the tenant is obligated to pay for the lease during the next 5 years. However, I feel that this might be a setup to sell the building and then have the company go bankrupt. The company is 10 years old.
Any advice? What are my risks?
TIA,
Scott