Commercial Lease, What Can I do To Protect My Business if Landlord gets divorced ?

Question

I have a Daycare business, we have leased a bld from my brother-n-law for almost 5 yrs without a lease, He recently told me He wanted to help his sister out and give us a long lease that would protect our business in case they get divorced and his wife should end up with the property. Any Ideals on how or what we should include in this lease that would give us the most protection??? Thanks in advance for any input.

Answer 1

It doesn't matter who ends up with the property. Whoever gets the property should still be bound to that agreement. Just get a long term lease (5-10 years) with option to renew of the same term. Make sure that the agreement survives change of ownership. And make sure that your business will last long enough.

Commercial leases usually are long term. I think standard commercial lease agreements should have that option already.  

Answer 2

My guess would be to put in the contract that in case of divorce of the landlords you still have the same options available as if they were still married.    Or somethin like that.