Bank Didn't Consider Tenant's Offer to Purchase Building

March 31, 2010

LVT Number: #22544

Landlord bank sued to evict tenant after buying the building at public auction and sending tenant a 10-day notice to quit. Tenant expressed interest in buying the building. Landlord and tenant signed a settlement agreement in court. Landlord agreed to delay eviction, to evaluate the purchase offer within 20 days, and to send tenant a report and a proposed contract of sale. Landlord later sought to execute the eviction warrant, and tenant objected. The court ruled for tenant. Landlord hadn’t performed the evaluation or sent tenant a proposed contract.

Landlord bank sued to evict tenant after buying the building at public auction and sending tenant a 10-day notice to quit. Tenant expressed interest in buying the building. Landlord and tenant signed a settlement agreement in court. Landlord agreed to delay eviction, to evaluate the purchase offer within 20 days, and to send tenant a report and a proposed contract of sale. Landlord later sought to execute the eviction warrant, and tenant objected. The court ruled for tenant. Landlord hadn’t performed the evaluation or sent tenant a proposed contract. So landlord couldn’t enforce the eviction warrant at this point.

Deutsche Bank National Trust Co. v. Bareja: NYLJ, 3/3/10, p. 27, col. 1 (Dist. Ct. Nassau; Fairgrieve, J)

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