Landlord Deported

[Rome630]

What is the name of your state (only U.S. law)? PA

Hi.

If I rent a Commercial Property and my landlord is deported and can't keep up his mortgage what are my options to maintain business at the property? Also, is there a way for me to pick up the mortgage to the building?

 

[Cvillecpm]

Call the mortgage co about buying the property; however, until you see a FOR SALE sign on the property, escrow your rent and send a copy of the deposit/escrow receipt.

Foreclosure rules may differ for commercial property and the bank may well want to deal with you as a prospective purchaser!!

 

[Antigone*]

What is the name of your state (only U.S. law)? PA

Hi.

If I rent a Commercial Property and my landlord is deported and can't keep up his mortgage what are my options to maintain business at the property? Also, is there a way for me to pick up the mortgage to the building?

That is a tough situation to be in. The lender should contact you at some point. Right now I might suggest you contact your broker to possibly look for other options.