Property Management
A NJ commercial landlord who wants to sell a leased property must:
ATerminate all leases before selling
BHonor the existing leases; buyers take the property subject to existing tenancies unless leases contain termination provisions✓ Correct
CObtain all tenants' signatures on the deed
DObtain NJREC approval for the sale
Explanation
Commercial leases run with the land. When a leased commercial property is sold, the buyer takes it subject to existing leases.
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