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Updated about 10 years ago on . Most recent reply

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Lenin Belangonda
  • Corona, CA
5
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38
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Lease amendment - california

Lenin Belangonda
  • Corona, CA
Posted

Hi, I have property under LLC and the current lease agreement with tenant reflects that. But due to issues with refinancing, insurance and also 800$ additional tax I had to pay in California, decided to move it out of LLC. My question is do I need to re-write the lease with tenant or is there any amendment that would suffice?

Thanks

Most Popular Reply

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Matt Devincenzo
  • Investor
  • Clairemont, CA
2,723
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Matt Devincenzo
  • Investor
  • Clairemont, CA
Replied

I wouldn't do a thing. The lease stays in effect even with a transfer of ownership as would occur during sale. With this being a transfer "in-house" there is even less reason (IMO) to worry about informing the tenant.

Obviously I'm not a lawyer so take it for what it's worth, but I wouldn't think twice about doing anything.

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