[CLC-Discussion] Leasehold foreclosure

[Larry Leiby]

You find it right outside of Kissimmee, Fantasyland (rarely if ever).  It works if the tenant is solvent.  If the tenant is worthless, just sad, which is why a lien against a leasehold is not as valuable as a lien against a feehold (at least where there is some equity in the feehold).

From: Reese J. Henderson, Jr. [mailto:Reese.Henderson at gray-robinson.com]
Sent: Friday, November 18, 2016 10:12 AM
To: Larry Leiby; Sean A. Mickley; Brian Solomon; clc-discussion at lists.flabarrpptl.org
Subject: RE: Leasehold foreclosure

But if you can’t foreclose it . . . ?  (Which your analysis seems to suggest, and which I think is true in most cases – how often do you find a tenant who stiffs the build-out contractor but is performing under its lease?)


Reese J. Henderson, Jr. | Shareholder
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From: Larry Leiby [mailto:Leiby at mkpalaw.com]
Sent: Friday, November 18, 2016 10:07 AM
To: Reese J. Henderson, Jr.; Sean A. Mickley; Brian Solomon; clc-discussion at lists.flabarrpptl.org
Subject: RE: Leasehold foreclosure

See F.S.  85.021 and 85.011 (3) and (4).  Primarily it gets a claim against the tenant (if not already in privity) and the ability to recover fees (exactly).
Larry R. Leiby, Esq.
Of Counsel
Malka & Kravitz, P.A.
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Office:  954-514-0984  Cell 954-895-9198
e-mail: leiby at MKPAlaw.com<mailto:leiby at MKPAlaw.com>  website: www.MKPAlaw.com<http://www.MKPAlaw.com>
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Fellow, College of Commercial Arbitrators      Fellow, American Law Society




From: Reese J. Henderson, Jr. [mailto:Reese.Henderson at gray-robinson.com]
Sent: Friday, November 18, 2016 9:58 AM
To: Larry Leiby; Sean A. Mickley; Brian Solomon; clc-discussion at lists.flabarrpptl.org<mailto:clc-discussion at lists.flabarrpptl.org>
Subject: RE: Leasehold foreclosure

Larry:  So what, exactly, does such a judgment (as you describe below) get you?


Reese J. Henderson, Jr. | Shareholder
Florida Bar Board Certified in Construction Law
Florida Supreme Court Certified Circuit Civil Mediator
G R A Y | R O B I N S O N

50 North Laura Street, Suite 1100 | Jacksonville, Florida 32202
T: 904-598-9929 | F: 904-598-9109 | D: 904-632-8459
E-mail<mailto:Reese.Henderson at gray-robinson.com> | Website<http://www.gray-robinson.com> | Bio<http://www.gray-robinson.com/attorneys/detail/1022/ReeseJ-HendersonJr> | vCard<http://www.gray-robinson.com/docs/Reese%20Henderson.vcf>

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From: clc-discussion-bounces at lists.flabarrpptl.org<mailto:clc-discussion-bounces at lists.flabarrpptl.org> [mailto:clc-discussion-bounces at lists.flabarrpptl.org] On Behalf Of Larry Leiby
Sent: Thursday, November 17, 2016 5:17 PM
To: Sean A. Mickley; Brian Solomon; clc-discussion at lists.flabarrpptl.org<mailto:clc-discussion at lists.flabarrpptl.org>
Subject: Re: [CLC-Discussion] Leasehold foreclosure

Sean is right, and this question is perhaps a little tardy in the time line, but why would one seek to foreclose a lien on a leasehold unless it was a long term lease and the suffering of a lien or judgment allowed for transfer and the premises could be used by the lienor?  I typically seek a judgment recognizing the lien in the amount due plus interest and fees against the tenant (and anyone else who may be responsible).



From: clc-discussion-bounces at lists.flabarrpptl.org<mailto:clc-discussion-bounces at lists.flabarrpptl.org> [mailto:clc-discussion-bounces at lists.flabarrpptl.org] On Behalf Of Sean A. Mickley
Sent: Thursday, November 17, 2016 2:17 PM
To: Brian Solomon; clc-discussion at lists.flabarrpptl.org<mailto:clc-discussion at lists.flabarrpptl.org>
Subject: Re: [CLC-Discussion] Leasehold foreclosure

The original lessee is probably in breach of the commercial lease which usually provides for acceleration of rents due under the lease.  It will likely depend upon the terms of the lease.

From: clc-discussion-bounces at lists.flabarrpptl.org<mailto:clc-discussion-bounces at lists.flabarrpptl.org> [mailto:clc-discussion-bounces at lists.flabarrpptl.org] On Behalf Of Brian Solomon
Sent: Thursday, November 17, 2016 2:07 PM
To: clc-discussion at lists.flabarrpptl.org<mailto:clc-discussion at lists.flabarrpptl.org>
Subject: [CLC-Discussion] Leasehold foreclosure

Question:

A lessee on a commercial lease does a build-out, doesn’t pay the contractor who files a lien but the landlord has complied with 713.10.  The leasehold interest is foreclosed and sold at foreclosure sale.  The purchaser of the leasehold interest thereafter does not pay rent.  Is the original tenant still liable for any unpaid rent?


[BSLawBSolomonBC-page-001 (2)]

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