Legal Question in Real Estate Law in California
I am preparing Commercial Lease for one year term in California. If we need to sell the property during the term of the lease can the lease be terminated? Does this need to be written into the lease? Thank you.
2 Answers from Attorneys
Yes, you will want to make sure its in the lease.
Yes, but consider (a) whether any commercial tenant will pay a decent rent when they might be evicted at any time due to a sale, and (b) whether prospective buyers would pay more for a property with a tenant in place.
I don't know anything about your property or your circumstances, but it seems to me that you can maximize both your monthly rental income and your selling price by getting a good long-term tenant in place.
Many commercial tenants want leases much longer than one year.
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