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, illegal activities, or to rant about personal issues. Please review the full guidelines if you have any questions.

Submit Your Answer
Answers (2)
Mrs. Elizabeth White
Washington County, FL

A MUST READ: HOW I GOT MY LOAN FROM THIS GREAT COMPANY CALLED DR. MAVERICK LEONIDAS LOAN COMPANY

Hello to All across the globe, I am Mrs. Elizabeth White, from United State Of America, USA. I am a mother of 4 kids and I was stuck in a financial situation and I needed to refinance and pay my bills. I tried seeking loans from various loan firms both private and corporate but never with success, and most banks declined my credit ,do not fall prey to those hoodlums at there that call them self money lender they are all scam , all they want is your money and you will not hear from them again they have done it to me twice before I meet Dr. Maverick Leonidas the most interesting part of it is that my loan was transfer to me within 74hours so I will advice you to contact Dr. Maverick Leonidas if you are interested in getting loan and you are sure you can pay him back on time you can contact him via email……… (dr.maverickleonidassloans@gmail.com) No credit check, no co signer with just 2% interest rate and better repayment plans and schedule if you must contact any firm with reference to securing a loan without collateral then contact Dr. Maverick Leonidas today for your loan

They offer all kind of categories of loan they

Short term loan (1_10years)
Long term loan (20_30 years)
They offer loan like
Home loan............., Business loan........ Debt consolidation loan .......
Student loan..........,Business start up loan
Business loan....... , Company loan..............Mortgages loan
construction loan.....car loan........ hotel loan....personal loans.. etc

Email..........(dr.maverickleonidassloans@gmail.com)
When it comes to financial crisis and you need to be free from financial crisis then Dr. Maverick Leonidas loan loan is the place to go please just tell him I Mrs Elizabeth White direct you Good Luck....

Aug 19, 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