The BizBuySell Small Business Community

  • Get Expert Advice

  •  • Find Local Service Professionals

  •  • Share Your Experiences

Is it leagal to sell your business while you are still on lease?

Hello, I am looking for a taking over someones lease to move my business. The person who offered take over her lease, originally did not mentioned about selling it. When I looked at the place and agreed to take over, she said that she is actually selling it. My question: is it leagal to sell your lease?
Thank you

No User Photo

Answer This Question

max 5000 characters

Web Reference (optional)

e.g., "www.mywebsite.com"

Review Community Guidelines

Help keep our Community clean and on topic. The BizBuySell Community is a place where you can discuss your questions, concerns and knowledge with others you can trust. It is not OK to use this forum to solicit others for personal or financial gain, or to rant about personal issues. It's all in the guidelines.

Submit Your Answer
Answers (2)
No User Photo

We are financial consultants to a group of investors whom we have their consent to manage their funds which is in our custody for cooperation in joint venture business investments.

Our areas of interest include Property Development and real estate, Health Care, Education and training, Mining and exploration, Energy, oil and gas,Technology, Software development, Agriculture, Manufacturing, Finance Services and Leisure.However, all viable proposals within reason will be considered.

Funds shall be made available to you as a direct investment loan at 3% interest rate per annual for a period of 2 or 30 years depending on what you prefer. You may contact us if you have interesting investment proposal for possible business collaboration for our study.

We look forward to your reply to enable us provide you with details or you may visit our website.

Kindly acknowledge receipt of email.

Thank you.

Yours Sincerely
Jesse Peterson
phone: (980) 239-7539
email: info@interventionmortgagefirm.com
web: http://www.interventionmortgagefirm.com/

Jul 5, 2017
No User Photo
The BAF Group LLC
MD

Yes, I believe it is legal to sell it, but there are a lot of variables involved in it. First of all, is it worth buying? Why would you purchase a lease? Is the location that valuable to be worth paying her for it? Or is space that limited in that area that you cannot find another one, without paying a premium to her? And even if you contract to purchase it from her, the whole thing has to be contingent upon the landlord agreeing to allow you to take it over. Unless the lease is extraordinarily unusual, she really does not have to the right to sell that lease, without the permission of the landlord.

In a normal situation, you can take over the lease only if the landlord carefully examines you, your business and your credit worthiness to assume the lease. The landlord may either write a completely new lease, or simply allow you to take over the current lease. Either way, you need to have an attorney examine the lease carefully, in order to determine whether the lease allows such a sale. Legally you may be able to do it, but the lease itself may prevent it.

I would be very, very careful and seek the counsel of a qualified Real Estate Attorney, once you have that lease in hand.

Feb 19, 2016

Start a Discussion