Legal Question in Business Law in Texas
IRS seizure of rentors property
We own a commercial strip mall. One of the tenants (furniture store) was seized (the furniture) I own the mall. They have locked the furniture company thus my door. Since the IRS has seized this property should they not be paying us to ''store'' the seized property. I do not think it fair that we should have to suffer because our tennant failed to pay the proper taxes. We are losing alot of money quickly. We will probably have to give the bank our property as we depend on the rent payed by the furniture store to help make payments on the loan we have for building the mall.
1 Answer from Attorneys
Re: IRS seizure of rentors property
You may have a few different avenues of recovery, though they are long shots. First, check if you have insurance coverage to cover this sort of action. Second, check if the lessee has some sort of insurance to protect the landlord. Third, if the lessee has assets, you can go after that. Fourth, you may see about speaking with counsel for the government to see if you can work something out by which you can move the property to a third location, freeing up your space.
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