Wiseguy909 Posted August 31, 2011 Report Share Posted August 31, 2011 We got a phone call today from the Real Estate company that "had" owned our hunting property and informed us that due to the bad ecnonomy that their bank had taken control of all of their properties and that they had notified the bank of our lease and said we were good leasees and that we kept a good watch over the place. I will bet that the bank don't care unless we are looking to buy it. It was on the market for 20 some million. 2,000 acres lakefront on South Holston. oh well, we were looking for a lease when we found that one. Good leases are getting harder and harder to find these days. Quote Link to comment Share on other sites More sharing options...
trackertxw175 Posted August 31, 2011 Report Share Posted August 31, 2011 banks are so hard up for cash right now i bet they will honor the lease unless they have a buyer lined up which sounds doubtful at that price Quote Link to comment Share on other sites More sharing options...
Whopper Posted August 31, 2011 Report Share Posted August 31, 2011 Good Luck Jason Ross has a valid point but then again banks are doing some strange things these days when it come to foreclosures. Quote Link to comment Share on other sites More sharing options...
Mountainman Posted September 1, 2011 Report Share Posted September 1, 2011 +1 on the leases being hard to find. We have been looking to add to our little lease in Indiana for 2 yrs now. I aint even going to discuss how long ive looked for a decent lease around here. Quote Link to comment Share on other sites More sharing options...
softbaitmaker Posted September 1, 2011 Report Share Posted September 1, 2011 (edited) It's doubtful the banks will honor the lease becuase they will be afraid of being sued if anyone got hurt on the property. Now if the bank does put an insurance policy on the land they might continue to lease the land but you can bet the lease price might go up some. Hope things work out for you. Edited September 1, 2011 by softbaitmaker Quote Link to comment Share on other sites More sharing options...
Wiseguy909 Posted September 5, 2011 Author Report Share Posted September 5, 2011 banks are so hard up for cash right now i bet they will honor the lease unless they have a buyer lined up which sounds doubtful at that price Good guess Ross! Thanks exactly what happened. We are in good standing until the property sells. Quote Link to comment Share on other sites More sharing options...
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