Mortgagee a Bona Fide Purchaser Not Subject to a Right of First Refusal Held by the Lessee of an Unrecorded Lease
By
Mike Berey on February 22, 2017
The seller represented in a contract of sale that a commercial lease at the property to be conveyed did not contain a right of first refusal to purchase (“ROFR”). The sale closed; the purchaser obtained loans from Signature Bank secured by two mortgages.
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Topics: Unrecorded Lease Right of Refusal