If you are leasing space in a building, can you sell the business?

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If you are leasing space in a building, can you sell the business?

Asked on June 15, 2013 under Real Estate Law, North Carolina

Answers:

Tricia Dwyer / Tricia Dwyer Esq & Associates PLLC

Answered 10 years ago | Contributor

Hello. Yes, you may sell a business while leasing space. The seller will need to address the matter of the lease with the landlord, because it is the seller who has the present contract with the landlord. Some attorneys are available seven days for emergency legal needs. Many attorneys will confer initially at no charge. Then, if legal work is performed, some attorneys will provide a reduced fee for financial hardship. Some attorneys may also assist you in limited scope manner to conserve legal costs. All the best.

Anne Brady / Law Office of Anne Brady

Answered 10 years ago | Contributor

If you are leasing space in a building, you can generally sell the business subject to the landlord approving of transfering the lease to the new business owner.  Check the terms of your lease.  It should contain a provision about selling your business and what happens with the lease.


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