Auction moves 2nd lot of Yellow terminals
A Delaware bankruptcy court filing on Wednesday showed the results from a second auction of Yellow’s service centers.
www.freightwaves.com
Yellow | Second round of auctions
- Thread starter rugrunner
- Start date
www.freightwaves.com
My questions these ‘leased’ properties, Yellow is attempting to ‘sell the lease’, correct? Which means a different tenant will take over, and assume the rent payment to a landlord for use of the property for the remainder of the terms of the current lease, correct?
Does a landlord(meaning the property owner) have a say in who takes over a lease? In other words, can a landlord ‘veto’ the new sublet tenant?
Does a landlord(meaning the property owner) have a say in who takes over a lease? In other words, can a landlord ‘veto’ the new sublet tenant?
Real Teamster
TB Veteran
- Credits
- 509
That depends on what the terms of the lease are. If there is a sublet permissibility without approval from the lessor, then no. If the lease says that the lessor has right of rejection, then yes. It all depends.