My family owns a large portion of land and their is a resort on it a hotel, apartments to house employees, a pool and golf course and it closed down and out of business well once it closes does everything that remains belong to us? The hotel and apartments and pool and golf course?
Thanks for visiting the site and posting on the forum. I’m sorry to hear that the businesses on your land are going out of business. This can get a bit complicated and what happens to the structures, fixtures, etc depends on the commercial lease you have, as well as laws in your state. I would recommend that you look at the lease that they signed and consult with a commercial real estate attorney in your area. I wish you all the best,
315 Madison Avenue, 24th Floor
New York, NY 10017
Disclaimer: We spend hours researching and writing our articles and strive to provide accurate, up-to-date content. However, our research is meant to aid your own, and we are not acting as licensed professionals. We recommend that you consult with your own lawyer, accountant, or other licensed professional for relevant business decisions. Click here to see our full disclaimer.
Product or company names, logos, and trademarks referred to on this site belong to their respective owners.