Legal Question in Real Estate Law in Wisconsin

landlords rights

i am a commercial building landlord. my tennant is in receivership,not bankruptcy, and the receiver was appointed by the bank. the bank has lots of equipmentin my building and according to our landlord waiver they are resposible to pay rent while they use our facilty.two problems are occurring 1. they pay rent after the due date and will not tell me if the insurance on the building is paid eventhough they have access to this information. the building is valued at 3,000,000 and my question is what can be done to make the bank and its appointed liquidator?


Asked on 10/02/01, 11:20 am

1 Answer from Attorneys
Paul Piaskoski

Re: landlords rights

first, we would need to see the lease. Many leases contain language that if the tenant goes into receivership then the LL can terminate the lease, remove the tenant and relet the premises. I would also need to see what agreement if any you in writing with the bank. As far as the insurance question, normally if the T. does not provide proof of insurance, the LL will insure the building according to the terms of the lease and then charge the T. the cost of that insurance. A lot depends upon the lease that was executed between you and the Tenant.

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Answered on 11/07/01, 9:29 am


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