Landlord issues when buying a business
When a business is sold to a new buyer and the seller has a Lease for their offices, store, etc., it is imperative and in many cases required that the Lease be assigned to the new buyer or a new Lease put in place for the new buyer. Sometimes this becomes a sticking point in a deal that is in escrow, that has been approved for a business loan and is ready to close except for this Lease issue. The professionalism of the Business Broker and the professionals they work with are the key to understanding how to solve this issue which potentially could sabotage the deal.
posted by expert at MKLbizConsulting.com @ 12:01 PM
9 Comments:
Many leases have provisions which restrict the tenant's ability assign or sub-lease. If I am thinking about selling my business, what types of matters should I be aware of when reviewing my lease agreement?
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