Tory Lanez Sued For Foreclosure, Allegedly Owes Over $1 Million For Miami Condo

Tory Lanez

Tory Lanez Sued For Foreclosure, Allegedly Owes Over $1 Million For Miami Condo

It seems that Tory Lanez has more legal issues to deal with.

According to Radar Online, a company named BH 4908 LLC is suing Tory Lanez, born Daystar Peterson, for foreclosure on his Miami condo. The 3-bedroom, 3.5-bathroom, 2,182 sq. ft. penthouse was purchased by the 29-year-old entertainer in 2018 for a reported $1.8 million. Allegedly, Tory Lanez took out a $1.26 million loan with BH 4908 to help buy the Miami property.

Tory Lanez

According to the legal documents, the ‘Broke In A Minute’ rapper/singer agreed to make monthly mortgage payments of $11,057.40. He also signed off to make one large balloon payment in December 2021 of $1,237,456.06. However, the lawsuit claims that Tory failed to make the payment. BH 4908 is suing for the full payment of the balloon note, plus interest. The company adds that despite Tory being behind on his payments he still lives in the luxury condo and is the only owner on the title.

BH 4908 is requesting that the court allow them to foreclose the property and sell it off to the highest bidder. In addition to that, they want Tory to pay any difference between the price the condo sells for and the amount owed. Tory Lanez has yet to publicly speak on the lawsuit.

What are your thoughts on this entire situation? Do you think Tory Lanez should pay back the money still owed? Tell us in the comments below!

[VIA]