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<p>Listmates</p>
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<p>One other question regarding impact of non-judicial foreclosure on unrecorded lease. Here are the underlying acts</p>
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<li>PC in second position (passive investor) is successful bidder in a nonjudical foreclosure</li><li>Statute suggests unrecorded commercial lease does not survive foreclosure.</li><li>PC was aware of tenant in building but did not bother reading the lease since PC did not know if he would win.</li><li>Tenant claims lease survives and acting in threatening manner since tenant invested money to upgrade interior but did not negotiate a subrogation clause or record the lease.</li><li>Lease is at half FMV in market place.<br>
</li><li>Advised tenant new lease is coming and lease amounts paid would be deemed month-to-month until new lease executed (tenant unhappy)<br>
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<div>Any case on point? Thoughts on this matter....</div>
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<div>Thank you.<br>
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Roberto H. Castro
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