The single question owners return to most is what happens to the assessment when the building changes hands, and four scenarios cover nearly every case: sale before the end of the term, transfer to heirs, refinance of the senior mortgage, and change of entity or ownership interest. Each gets what happens to the assessment and what to confirm on your own deal. The one thing that does not change in any scenario is that the assessment attaches to the property, not to you, which is why none of these transitions requires you to pay it off. The sheet flags entity-level transfers in particular: that is how a great many family-held and partnership-held buildings actually change hands, and it is worth raising before signing rather than at closing.
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