Contract to Sell Real Property
I have a contract Offer from a buyer of 40 arces of farmland. I have in place a three year land lease. The lease do not have a specific termination clause. What can I do to to sell the property if the buyer will not buy if the lease is binding on the buyer. The buyer want to buy without having to the lease binding upon the new buyer. The current lease is between my LLC and a famer who farms the land. The new buy is also a farmer a wants to farm the land. What can I do?
Asked on 7/04/09, 3:17 pm
1 Answer from Attorneys
Daniel Press
Chung & Press, P.C.
Re: Contract to Sell Real Property
Either work out a deal with the buyer to lower the price in exchange for taking subject to the lease; or work out a deal to buy out the tenant's remaining lease rights. You can't just force the tenant out.
Answered on 7/04/09, 3:24 pm
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