I have a 35 year land lease that commenced in 1995 and should terminate in 2030. In 1995 it started with a$2,600 monthly payment plus $1,200 property tax payment. The lease has a cost of living clause. Up to this date, 2014, I have been current in tax payment. However, with the verbal consent of Landlord, I made the following lease payments; 1995 $31,200 per year; 1996 to 2007 at $24,000 per year; 2008 to 2010 31,200; from 2010 to this date with the verbal consent of landlord I paid property tax payments only.
Today, the Landlord has made a substantial bill of $250,000 , adding the cost of living from 1995 up to now and intends to terminate the lease unless I pay the said amount. Not once is the last 19 years Landlord has demanded verbally or in writing about cost of living increase or the shortage in rent payments that Landlord had verbally agreed to.
Do I have any legal rights to fight back? Landlord wants to sell the property and get rid of me. He is willing to forego his $250k demand if I agree to the lease termination. I do not want to terminate and I do not want to pay the $250 K. Do I have any rights?
Answer
It is difficult to answer that question without seeing the terms of the lease. We could take a look at it and give you an opinion on what your rights might be.
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