I am considering buying a C corporation that owns some real estate, the land/buildings were obviously purchased using a loan. How would the loans be affected during/after the transfer of the corporation from it`s current owner to me?
Would/could there be any other issues with such a transfer?
Several issues come to mind. First, the properties could have use restrictions that go into affect once the property transfers to a new owner. These restrictions could affect how you use the buildings. Another is any undisclosed liens against the properties and zoning issues. As an example, a doctor bought a vacant building for use as an office. He then discovered that the area was not zoned for a office. The property could only be used as a restaurant.
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Those are all good points, I intend to keep the corporation operating in the same manner it is now. My question is with regards to the transfer in and off itself. For instance with personal property if the real estate property changes hands then the loan gets called in and a new one must be issued to the new owner. Could something of the sort happen? I believe that is not the case, but am trying to prepare myself for all contingencies.