In my place, i saw one small rental shop has closed for almost one year plus and understood tenant business got bankrupt and tenant owner disappeared and finance company filed the case and seized the shop through court order almost one year plus now. And landlord, keep circling to court to release this property.
I am landlord own the small commercial property, in that one of newbie private limited company asking for lease. Is there any way to avoid the above seize situation not to interfere any court order to seize my property in tenant got bankrupt?
In register rental lease agreement, can we add the clause stating that incase of bankrupt/insolvency, external party or debitor of tenant has no right to seize/lock my property and owner has full right, after rent in default for 2 months can take back control of property and remove their goods?
Please advise
