I sold my nursery property(not plant material) to a person so he could build houses. The power company, Peace River Coop was paid $10,000. at closing of new property 5 months ago to install the electric. My new property just got electricity 10 days ago, so NOW I will have water for installation of my plant material. I asked new owner to extend my lease 6 additional months so I can move my 40 acre nursery. My lease says I maintain the property and pay property taxes which are "green belted" because of my agricultural operation.
The new owner who I know is not ready to start building homes because he has not completed his requirement from the county to start his project wants to charge me $10,000. a month rent.
I was hoping some of our great legal minds had some ideas to throw back at the new owner who is trying to take advantage of my situation.
I'm no legal expert, but I would threaten to sue the Electrical Coop for taking so long to install power at your new location, in hopes of getting them to pay the 'rent' at the old place. Maybe capitulation from both sides (the coop paying the rent and the new owner of your old location taking less than $10m rent) will keep you from having to pay anything but legal fees. Good luck!
To some extent, it seems it would come down to the terms of your agreements with both the coop and the lease. I take it you didn't have some sort of provision included to extend the lease under certain circumstances?
I think that is the property taxes. Remember, the taxes will adjust to the value he paid the year after closing takes place. Since that was last year, I would think his taxes this year are going to be roughly 10k per month.
Ward, I'm only licensed in Louisiana, but like slaughterj said, this is going to be highly dependent upon the lease agreement you have with the new owner. Both Bigs and slaughterj mentioned the responsibility of the power company in this scenario and I would highly recommend that you explore that avenue because they being a utility company may have statutorily mandated periods in which they must at least begin work after a request has been made.
Ultimately, with the kind of money you are talking about here, it is well worth enlisting an attorney skilled in contracts and litigation to take a look at this as soon as possible.
the buyer probably paid you more than he wanted to inorder to get the land. now he is just looking to green mail you to get back some of what he spent. try to work something out with the guy. is he gonna need some landscaping for the property once it get developed? could be an opportunity. show him your letter from thos edison - that might impress him!
I think that is the property taxes. Remember, the taxes will adjust to the value he paid the year after closing takes place. Since that was last year, I would think his taxes this year are going to be roughly 10k per month.
That might make sense assuming you've already sold the property.
The current "greenbelt" taxes I pay on the land while it is in agricultural use, those costs are approx $1, 700 a year which I am paying while I use the land under the lease with of my contract with new owner.
Would this constitute conditions beyond my control?
I have no control of a utility.
No electricity means no water and that equals dead plants!
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