Notice to Tenant of Transfer of Lease (Commercial Real Estate Purchase and Sale) (IL) | Practical Law
A notice delivered by a landlord to a tenant when the landlord's Illinois commercial, single-family, or multiple dwelling unit property is sold. This notice informs the tenant of the change in ownership in the property and the assignment of the lease to the purchaser. This Standard Document has integrated notes with important explanations and drafting and negotiating tips for both sellers and purchasers.