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Old 01-21-2017, 09:07 PM  
Trivers Trivers is offline
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Question for LandLords: Have you ever had a tenant pass away?
Several years ago, I got into the landlord business with a small office building with a mix of both commercial and residential tenants.

Just received a phone call that one of the business tenants, a sole proprietor, sadly lost his battle with cancer.

His business had just renewed for another year. And there was no verbiage in the lease about death of the business owner.

How does the law deal with residential rental vs. commercial rental? Isn't a LLC or corp business consider a living entity? I have no idea who the next of ken are.

Any ideas what I should do?

Thanks
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Old 01-21-2017, 09:08 PM   #2
Nightfyre Nightfyre is offline
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You should probably turn to an Internet message board for legal advice.
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Old 01-21-2017, 09:24 PM   #3
Trivers Trivers is offline
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You should probably turn to an Internet message board for legal advice.
Really??

You're suggesting I bother my attorney on a Saturday evening? He will charge me double of his already ridiculous rates.

(BTW, how do attorneys get away with the rates that they do charge?!?!)

I can't wait till Monday! I want answers and ideas now!
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Old 01-21-2017, 09:30 PM   #4
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Isn't this a Q from about a month ago?

I mean, probably not the same dead person, but someone else just had this happen.

I would probably assume that the lease is void, assuming that the person didn't have employees who can maintain the business as an ongoing enterprise.
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Old 01-21-2017, 09:32 PM   #5
Pasta Little Brioni Pasta Little Brioni is offline
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I swear this is a repeat of an earlier thread
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Old 01-21-2017, 09:32 PM   #6
Pasta Little Brioni Pasta Little Brioni is offline
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Originally Posted by Rain Man View Post
Isn't this a Q from about a month ago?

I mean, probably not the same dead person, but someone else just had this happen.

I would probably assume that the lease is void, assuming that the person didn't have employees who can maintain the business as an ongoing enterprise.
Yeah i think it's the same dude but not for sure
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Old 01-21-2017, 09:35 PM   #7
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Originally Posted by Trivers View Post
I have no idea who the next of ken are.

Any ideas what I should do?

Thanks
You should find his next of bob and steve first. Best of luck!
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Old 01-21-2017, 09:36 PM   #8
mdchiefsfan mdchiefsfan is offline
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Quote:
Originally Posted by Rain Man View Post
Isn't this a Q from about a month ago?

I mean, probably not the same dead person, but someone else just had this happen.

I would probably assume that the lease is void, assuming that the person didn't have employees who can maintain the business as an ongoing enterprise.
Haha! I was going to say the same thing, but this doesn't seem like a thread that should repeat itself all that often. If so, 2017 is starting off brutally.
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Old 01-21-2017, 09:37 PM   #9
Trivers Trivers is offline
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wasn't the other one residential?

Rainman has a good common sense answer.

I wonder how long I would have to wait to pack up the assets before I can release the unit.

Anybody want a 28 by 40 office in middle of nowhere WI? It may be ice and snow now, but by June, it will be in the 60s on Lake Michigan.

Make ya a good deal.
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Old 01-21-2017, 09:39 PM   #10
Pablo Pablo is offline
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Originally Posted by Trivers View Post
wasn't the other one residential?

Rainman has a good common sense answer.

I wonder how long I would have to wait to pack up the assets before I can release the unit.

Anybody want a 28 by 40 office in middle of nowhere WI? It may be ice and snow now, but by June, it will be in the 60s on Lake Michigan.

Make ya a good deal.
Seems like you're trying to notch another dead tenant onto your belt with that offer.
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Old 01-22-2017, 10:11 AM   #11
oldman oldman is offline
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I think it depends on whether he was a sole proprietor, LLC, or corporation. How did you lease it?
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Old 01-22-2017, 10:34 AM   #12
displacedinMN displacedinMN is offline
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My FIL had an LLC. When one of the partners died, the LLC was dissolved because of death. I believe, You should have full control of your property quickly. I am sure you can give relatives time to clean out the property. His contents should go to the estate.
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Old 01-22-2017, 10:40 AM   #13
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I can confirm we had another recent thread about a tenants death.
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Old 01-22-2017, 10:51 AM   #14
Trivers Trivers is offline
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My FIL had an LLC. When one of the partners died, the LLC was dissolved because of death. I believe, You should have full control of your property quickly. I am sure you can give relatives time to clean out the property. His contents should go to the estate.
Good Post. Exactly what I'm going to do.

Under WI law, a personal lease ends 60 days after I learn of death. While I could argue that it was a business lease, I'm going to take the high road.

Change the locks tomorrow.
Keep all family members out until the executor of his estate contacts me and settles the issue.
Start advertising the space immediately.

If anyone enjoys ice fishing now and great lake fishing in June, send me a PM.
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Old 01-22-2017, 11:10 AM   #15
Skyy God Skyy God is offline
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Good Post. Exactly what I'm going to do.

Under WI law, a personal lease ends 60 days after I learn of death. While I could argue that it was a business lease, I'm going to take the high road.

Change the locks tomorrow.
Keep all family members out until the executor of his estate contacts me and settles the issue.
Start advertising the space immediately.

If anyone enjoys ice fishing now and great lake fishing in June, send me a PM.
You could lock the executor out, but that's kind of a dick move.

Have you considered a career in the law?
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