Legal Question in Real Estate Law in Utah
We provide DirecTV service for a hotel. The hotel was foreclosed on by the private money lenders that were lending the money. The hotel owed us a bill of $5000. They now are refusing to pay the bill saying it is not their problem even though they are using all fo the same equipment that the money is owed on? How is the best way of going about collecting our money? If the private money lenders forelcose on the borrower don't they assume all liabilities etc.. from the property?
1 Answer from Attorneys
Usually when the lenders foreclose, the foreclosure wipes out any debt attributed to the property from the prior owners. Do you have a signed contract? Do you have any personal guarantees? I suspect your remedy is to pursue your claims against those that hired you - probably best in small claims court as that is quickest and the limit is $10,000. Good luck!
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