Company on my land went out of business now what?

[Amy]

Company on my land went out of business now what?

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?

#240232 Reply

[Allison BethellParticipant]

Hi Amy:
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,

Allison

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