Commercial Lease

[mfr]

Recently I purchased a property which includes two small Medical/Professional buildings in Sacramento. In one of the building a Doctor has been running a medical practice was about a year. She had signed a 10 year lease for the building with the previous owner and the lease is to continue with my purchase. There is nothing in the lease agreement which allows her to terminate the lease with the change of ownership. It happens that the I received a copy of a letter sent to the previous owner by the attorney for the doctor that she is voluntarily surrendering the property to the lease holder due to some financial difficulties. This letter was dated Sept 21. I closed the purchase on Sept 22nd. The previous owner did not receive it till Sept 23rd. The doctor is still under obligation tp pay the rent till I find a new lessee. But she has not paid a penny so far. I have made repeated call to her office and she does not return the call. I've spoken with her attorney and he says that he will only convey the message.

The question I have is what should I do. Your help would be appreciated

 

[HomeGuru]

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by mfr:
Recently I purchased a property which includes two small Medical/Professional buildings in Sacramento. In one of the building a Doctor has been running a medical practice was about a year. She had signed a 10 year lease for the building with the previous owner and the lease is to continue with my purchase. There is nothing in the lease agreement which allows her to terminate the lease with the change of ownership. It happens that the I received a copy of a letter sent to the previous owner by the attorney for the doctor that she is voluntarily surrendering the property to the lease holder due to some financial difficulties. This letter was dated Sept 21. I closed the purchase on Sept 22nd. The previous owner did not receive it till Sept 23rd. The doctor is still under obligation tp pay the rent till I find a new lessee. But she has not paid a penny so far. I have made repeated call to her office and she does not return the call. I've spoken with her attorney and he says that he will only convey the message.

The question I have is what should I do. Your help would be appreciated <HR></BLOCKQUOTE>

You need to hire your own attorney to review the lease and sue for default, eviction and collection of rent. Did the Seller know of her intent prior to closing? The dates so near closing appear suspicious.

[This message has been edited by HomeGuru (edited October 24, 2000).]