As long as you have a valid lease in place, the new owner who purchases the property that your businesses and will need to honor that lease even after purchasing the property are foreclosure sale a foreclosure sale only affects the ownership of the property in question, the property is still under the obligation to honor any leases that were written for the property in good faith.
I have responded to your inquiry according to the laws of Massachusetts, where my firm is located. Laws can vary significantly from state to state and cases tend to be rather fact-specific, so you are best served by consulting with a knowledgeable attorney in weighing your options.
Email messages/Online Correspondence are akin to conversations and do not reflect the level of analysis applied to formal legal opinions. Email/Online responses do not form an attorney-client relationship.
Joseph F. Botelho, Esq. BOTELHO LAW GROUP Attorneys At Law http://fallriverbankruptcyattorney.com/ 901 Eastern Ave. Unit 2 Fall River, MA 02723 Office: 888-269-0688 FAX: 877-475-8147
Answered on Apr 07th, 2014 at 2:57 PM