“We’re Outta Here…”: The Michigan Court of Appeals Recently Reaffirmed that Foreclosure May Extinguish Leases Covering the Foreclosed Property. Lenders, Owners and Tenants Should be Mindful of the Consequences.

When a lender forecloses a mortgage on commercial property that its borrower has leased to one or more tenants, the process may result in unexpected consequences. Continue reading “We’re Outta Here…”: The Michigan Court of Appeals Recently Reaffirmed that Foreclosure May Extinguish Leases Covering the Foreclosed Property. Lenders, Owners and Tenants Should be Mindful of the Consequences.