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Commercial real estate landlord - tenant issues. Can a landlord auction off tenants assets for back rent?
Wiki User
∙ 12y ago
Yes, only if you left your assets on the property past the date your lease term ended or were evicted
Wiki User
∙ 12y ago
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Three names on bank acct one person dies Whose acct is it?
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Is industrial unit covered under sarfaesi act?
The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, allows banks and financial institutions to auction properties (both residential and COMMERCIAL) when borrowers fail to repay their loans. It enables banks to reduce their non-performing assets (NPAs) by adopting measures for recovery or reconstruction.
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A commercial property management company deals with properties that are intended for commercial use by managing these assets and providing research and valuations for both leaseholders and lenders.
Is it legal for your tenant to rent to other people without landlords permission?
The situation you describe is called a sublet. Read your lease to confirm that this is allowed as part of the agreement you have with your landlord. Of course, if you choose to collect rental revenue from people without your landlord's permission, and you're collecting rent based on the landlord's assets, you may be liable to the landlord to turn all monies over to him or her. Best practices indicate that it's always a better idea to behave within the bounds of the agreement you have with your landlord.
Keep the garage assets to get the back rent?
No, that's illegal. If you keep their property against their will before they're considered to have abandoned it, is criminal. If tenants are late on the rent you may lawfully pursue them in court.
What is a large city in a foreign country?
It is a very important commercial area,were most of the country's crucial assets are found.
