Legal Question in Real Estate Law in California
lease
If Managment or Ownership changes while in a lease, is the lease still valid?
1 Answer from Attorneys
Re: lease
The way you phrased your question, I'm led to believe that there is a lease in the name of a company such as a partnership, corporation or LLC and there has been a recent change in majority control. The lease would be with the business entity and control generally does not affect contractual obligations of the entity. There are very limited exceptions, by way of example, in the form of a contract that indicates that an agreement can be terminated, payments accelerated, etc. upon change of 51% of ownership. In general, the answer to your question is probably "no", but if you have further concerns, you should consult legal counsel about your specific situation. To be clear, this answer is meant as a general response and is not specific legal advice as to your situation because the question is incredibly non-specific.