5 days ago · The short answer: Yes—if your lease is properly executed, the new owner steps into the shoes of the prior landlord. But there are nuances worth understanding.

May 13, 2025 · Your lease will remain intact, and the new landlord will have to honor the terms of your existing lease. In other words, the new landlord generally can't change the terms of your commercial …

This case deals not only with the landlord debtor issue but also with the effect of a bankruptcy court’s asset sale order permitting the sale to be “free and clear of all liens, claims, encumbrances and other …

Apr 23, 2025 · One possible solution to those challenges is to sell assets in bankruptcy through a “363” sale process. Section 363 of the US Bankruptcy Code allows a debtor, following notice and a …

Similarly, the debtor should consider seeking Court approval of global notice and other appropriate procedures to facilitate sales of assets of limited value or de minimis sales that do not warrant an …

When they do, the existing leases usually stick with the property. In other words, if the tenants have valid leases, the new owner simply “steps into the shoes” of the former landlord.

Nov 1, 2024 · One of the most common questions new property owners ask is whether they can terminate an existing commercial lease after taking ownership of the property. The simple answer is …

Jul 22, 2025 · The Protecting Tenants at Foreclosure Act (PTFA), which was permanently reinstated in May 2018, generally requires new owners to honor existing bona fide leases until their term ends or …

Aug 7, 2023 · When insuring a Chapter 11 bankruptcy sale or financing, Section 1146 (a) of the Bankruptcy Code provides for transfer and mortgage tax exemptions in only those instances where …

Learn key tips for navigating property sales during bankruptcy in NY—from understanding legal requirements to maximizing sale value.