On December 18, 2007, the California Court of Appeals, 4th District, decided that a Tenant’s preemptive purchase rights under a commercial lease are not triggered by the conveyance of an interest in the property between copartners in a family limited partnership that owns the property and is the landlord.
At issue, was a standard preemptive rights provision that allowed the commercial tenant to have an option to purchase the property in the event the landlord intended to sell the property. Here, the Court determined that the provision in the commercial lease giving the commercial tenant the preemptive right to purchase the property only applies to offers of sales made to third parties. Bill Signs Trucking, LLC v. Signs Family Limited Partnership – filed December 18, 2007, Fourth District, Div. One
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