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Tina
Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
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I own a lot in Arizona. I leased it to Carls Jr years.

Customer Question

I own a lot in Arizona. I leased it to Carls Jr for 20 years. They contracted with a contractor to build a building on the site. I had no part in the process. Carls Jr. filed for bankrupcy. They own the builder about 1 million dollars for the construction which is only 80% complete.
My question is . What liability do I have toward the builder?
Thanks for your help
Charles Dietrich
Submitted: 7 months ago.
Category: Real Estate Law
Expert:  DrakeLAW replied 7 months ago.
Hello and welcome to JustAnswer, my name is ***** ***** I am an attorney. Please note:This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. This question and response may be viewed by other parties as noted in JA’s terms of service. By continuing, you confirm that you understand and agree to these terms. By continuing, you confirm that you understand and agree to these terms.You do not have any liability to the builder. I am guessing the Carls Jr filed a chapter 11? If so, they may reorganize and refinance with the builder. Also, if that is what they did, you need to watch if they reject or assume your lease. Which means they keep it in place as is or they can terminate the lease in the bankruptcy proceeding. Also, if they stop paying you, there are steps you can take, but you must first take them in the bankruptcy court. Does that answer help?

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