[amalawad22]

I bought a commercial building from a bank was foreclosed on in IL , one talent have lease for 15 years ,bank said never supply a lease, but he sent $700 check every month, when I took over he gave me copy, 15 years, no increase in rent or tax, he have the right to sub lease or re sing it with out the consent of the land lord , the lease was singed 11 days before recording of a deed ,average rent is $ 1500, what to do

[Fr_Chuck]

1. You should have verified any lease prior to purchase? Who was the lease signed by ? The back ? Since they foreclosed, the foreclosure would void most leases from the prior owner.

If they bank signed the lease, and did not disclose this. It may be grounds to void the sale.

I would start with local real estate attorney, to notify them, that the lease is not binding, and see what happens.

[AK lawyer]

I agree with Fr_Chuck.

Amalawadd22's post is difficult to decipher, but it appears that he or she purchased a commercial property from the bank which had foreclosed the mortgage and acquired it in the foreclosure sale. The tenant did not have a recorded lease, but did have an unrecorded one, signed by the previous owner 11 days prior to the foreclosure sale.

As Fr_Chuck notes, OP may have been on "inquiry notice", requiring him or her to at least ask, at that time OP bought the place, about the status of the occupant.

It does not appear that the lease survives the foreclosure. OP should give the occupant whatever written notice is required (note: the notice period for residential notices to quit is often 30 days, but it may be different for commercial rentals), and then sue for eviction.