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Ownership of Business Property & Land Leasing Questions

Discussion in 'Commercial Transactions & Investments' started by biljohns, Sep 24, 2013.

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  1. biljohns

    biljohns Law Topic Starter New Member

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    Scenario 1:
    - Person A owns a plot of land.
    - Person B wants to lease Person A's land for commercial use.
    - Person B finances a property on the land.
    - Person B builds new business property on the land.
    - Person B defaults on business property loan.
    1. Is Person A responsible for paying the rest of the business property loan since the business property exist on their land or does the lender now own the property?


    Scenario 2:
    - Person A owns a plot of land.
    - Person B wants to lease Person A's land for commercial use.
    - Person B finances a property on the land.
    - Person B builds new business property on the land.
    - Person B pays off business property loan.
    1. Who owns the business property, Person A or Person B?
    2. When it comes time to renew the lease of land, what happens if Person A doesn't want to renew the lease and Person B has a fully functioning business? (disregard the fact that land leases are more than the length of the life of a person)
    3. If Person A owns the business property post Person B paying it off, can Person A destroy the property if a fully functioning business is operating?

    Financing land can be expensive when trying to start a business I have noticed. What other options are there to own land while running a business that are affordable? If leasing land never allows the person financing the property on the land to own the property, it to me doesn't seem like a good investment?
    I am new to this all, so please enlighten me.
     
  2. army judge

    army judge Super Moderator

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    We aren't an investment site, besides, do you really want to take financial advice from strangers?


    Sent from my iPad3 using Tapatalk HD
     
  3. biljohns

    biljohns Law Topic Starter New Member

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    Disregard the investment part of my post. I am more concerned with the legal part of my post (scenario 1 & 2).
     
  4. Betty3

    Betty3 Super Moderator

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    You might want to talk to an attorney before taking any type of action though someone here may come along with some information for you.
     
  5. guestpost

    guestpost New Member

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    This situation is not a reality. It is theoretical.
     
  6. biljohns

    biljohns Law Topic Starter New Member

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    The above scenarios are not realities, they are theoretical.
     

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