Tips from Centra Lawyers

Why is the landlord involved?

If the business is in a premises, the property is either owned by the vendor or it is leased. If it is leased, there will be a landlord and the lease will have to be either assigned or renewed. Either way, the landlord will have to be informed of the transaction and will be involved. Not informing the landlord can have dire consequences, even cancellation and eviction of the purchaser.

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