Texas
I just aquired a commercial building in Lubbock, TX. One of the tenants claims that he made a verbal agreement with the previous owner that he could leave and be released from his lease when his new building was completed. The previous owner denies such an agreement. The lease was for 3 yrs. and does not expire until 2006. He wants to leave and be released from the lease in June 05.
Does a verbal ammendment to the lease hold up legally? Is a lease transferable to a new owner of the property?
Thanks.
I just aquired a commercial building in Lubbock, TX. One of the tenants claims that he made a verbal agreement with the previous owner that he could leave and be released from his lease when his new building was completed. The previous owner denies such an agreement. The lease was for 3 yrs. and does not expire until 2006. He wants to leave and be released from the lease in June 05.
Does a verbal ammendment to the lease hold up legally? Is a lease transferable to a new owner of the property?
Thanks.