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Question: Leasing property from tenant that's buying property under land contract?

(Posted by: Brinks S on 2010-06-18 09:12:26)

We want to lease/ rent an small office in a large building. The current tenant is buying the entire property on land contract. We are discussing renting from the current tenant, so would we be considered as sub- leasing? And would we have to have permission from the owner to lease part of the property? We are not leasing anything yet. But the current tenant is buying the property on land contract. Who do we need to contact to lease a portion of property and what would we be considered?

Posted by: bill on 2010-06-18, 09:16:18

If you are leasing from the current tenant, and he is selling it to another tenant, then no you aren't sub leasing. And yes you will need permission from the tenant to sub lease. Your question isn't very clear, but i hope it helped.