Legal Question in Landlord & Tenant Law in Colorado
I am wondering about the laws of an existing commercial lease, and if the store was bought by a new owner, does the new owner have the right to forfit the lease and consider it null and void? there is nothing stated in the lease that covers such an issue. I am wanting to run the business myself. I am in the state of Colorado.
1 Answer from Attorneys
Generally, the lease agreement �runs with the land.� This means that the new owner is obligated to follow the terms of the lease with the tenant absent some rather clear contract rights to the contrary.
This is a significant issue and a mistake in this matter will be costly. I recommend that you contact an attorney and have them review the contract. Determining your rights and strategies will require this further review. .
DISCLAIMER�This answer is for informational purposes only and discusses general legal principles, trends, and considerations and is not intended as specific legal advice regarding your question. This answer does not establish an attorney client relationship. For legal advice, you should retain legal counsel for advice regarding your specific circumstances.
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