Inheriting Tenants in Default?

Claud Mccoid

An Illinois Appellate Court docket just lately dominated in favor of a professional tenant immediately after a new owner obtained a professional creating and tried to obtain accrued unpaid lease owed to the past landlord.

      
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A Clash Between 'Free and Clear' and Tenants' Rights Under the Bankruptcy Code's Section 365(h)

With the modern carnage in the retail industry, together with Sears and a lot of other vendors of all shapes and measurements, a lot of focus goes to the destiny of landlords when their tenants find bankruptcy security.