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Permalink Reply by Jack Straw on February 11, 2013 at 10:46am

RE: "One payment was made at the signing of the lease with the balance due 1 year later after all title and survey work has been completed. If the 1 year anniversary date comes around and the title work is still being processed, how would you proceed?"

I do not know how close you are to your 1 year anniversay; but, the title and survey work should be able to be completed within three months ... if it takes longer that that, it is likely because they are dragging their feet.

I would suggest that you contact them once three months has elapsed since signing, and ask if all their due dilligence has been completed and whether they are satisfied.

If they have completed their research to their satisfaction, I would ask for a letter from them attesting to that reality.

If they had not yet completed their research, I would qustion as to why it had not been completed and request an estimate as to when it would be completed ... and I would continue to follow up on this until they had completed their due dilligence.

 

RE: "If the 1 year anniversary date comes around and the title work is still being processed, how would you proceed?"

You would need to have your Attorney consult the exact specifics of your lease, and you would need to have your Attorney then suggest what step (or steps) you should then take.

 

All IMHO. None of the above should substitute for advice from a qualified Attorney,

 

JS

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