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I would expect there is some clause in their contract about novating it on transfer of the property ownership. Properties do get transferred, and it would be be
by Incipient 3y ago
I would expect there is some clause in their contract about novating it on transfer of the property ownership. Properties do get transferred, and it would be beyond insane not to have such a clause. It's not as if the operator of thy hotel can just rent another space down the road.
But not my industry, just seems like it would be reckless from the outside.
- the_mitsuhiko 3y agoI'm sure the contract has terms that determine what happens on a sale, return to lendor or whatever else is going on. But I'm not convinced that the assumption that "nothing changes for the management company" is such an obvious assumption.