If the leaseback company is sold to another company are the leases automatically transferred, valid and enforceable or do new leases have to be signed?
I know the question sounds stupid but what do you mean by sold to another company?
Do you mean the initial company is gone into liquidation and the commercial court gives you a new management or simply sold to some other company?
In both case any way, they have to keep the lease as it is, if they want to modify the lease they would need you to agree but of course you can disagree and they will have to respect the initial lease or stop the management of your property.
This said, management companies often try to play around this based on different restrictions, laws, etc...
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Maria,
I know the question sounds stupid but what do you mean by sold to another company?
Do you mean the initial company is gone into liquidation and the commercial court gives you a new management or simply sold to some other company?
In both case any way, they have to keep the lease as it is, if they want to modify the lease they would need you to agree but of course you can disagree and they will have to respect the initial lease or stop the management of your property.
This said, management companies often try to play around this based on different restrictions, laws, etc...
Regards,
Eddy