Legal Question in Real Estate Law in Wisconsin
cam charges after sale of strip mall mid-year
I lease space in a strip mall. It was sold in May of 2007. Is the new landlord responsible for supplying me with the receipts for the CAM charges for the whole year? Should the CAM I paid in prior to the sale be part of the closing statement and given to the new landlord?
1 Answer from Attorneys
Re: cam charges after sale of strip mall mid-year
So many of these things are contractual issues. There is not some statute or rule that governs these things, simply whatever was agreed upon.
Presumably your contract with the old landlord allowed for assignment of the contract to the new landlord. Therefore the new landlord is now bound by the terms of the old contract.
If you think there is going to be an issue, or that you may get squeezed in the deal, be sure to bring the contract to an attorney and allow them to look it over to check what the provisions say.
http://www.smsweeneylaw.com
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