Real Estate Jukebox: Disturbia: Survival of lease amendments in foreclosure

In this time of "blend, extend and amend" remember that A LEASE AMENDMENT MAY NOT SURVIVE A FORECLOSURE by your landlord's lender, even though the lease itself does survive. This can lead to curious results since, these days, lease amendments may lower the rent and provide other valuable concessions to the tenant in return for an extension of the term. If the amendment is terminated by a foreclosure, then the tenant loses these concessions and the landlord loses the extension.

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Allen Matkins Leck Gamble Mallory & Natsis LLP on:

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