Lease Assignment


#1

Does anyone use a


#2

Sandy, can you explain exactly what it is you are trying to accomplish?

To me I read “assignment of lease” as something like a sublease or assigning a lease from one tenant to the next. If for example a lonnie dealer were initially required to sign a lease with a new park they are working and later wished to “assign their lease” to their Lonnie buyer I would caution against it.

It’s always best to have the buyer qualify with the park and sign their own lease.

Just because a lease is “assigned” does not release the tenant unless the park (in this case) gives a specific, written release.

Again, I am not sure this is what you were trying to do so post back and let us know.

Tony


#3

Tony, yes, the buyer will have to qualify and sign a lease with the park.

On the cruise, Jack Miller mentioned getting a


#4

Jack is right, this can happen. Where I find it happen more commonly is not the tenant/buyer saying this but rather the Sheriff’s Deputy requiring you to move the home off the lot (not going to happen). This has happened not only to myself but others in various states.

Usually we find the solution lies with us as Lonnie dealers working with the park who simultaneously evicts the tenants as we repossess the home.

A right or lease re-assignment to you (the lonnie dealer) may be an argument to the Deputy that you have a lease for the lot and thusly the tenant cannot kick you out, nor can the park (if the park signed off on this form).

It would be something worth looking into but bear in mind that most Sheriff Deputies are not trained in this particular type of eviction or repossession, nor is it their job to try and interpret a contract, lease or assignment of lease so you may still face a problem from time to time.

I suspect that if you are standing there with the park and they agree that you now control the lease to the lot and you have the law there to give you possession of the home (after court of course) you should be on better ground.

Tony


#5

Thanks so much, Tony. I really appreciate your help.

Sandy