Legal Question in Business Law in California

Re: lease

A lease does not transfer automatically, all by itself. It requires a written agreement among the landlord, tenant and you. The tenant agrees to assign the lease to you, you agree to assume all of the obligations of the tenant under the lease, and the landlord agrees to accept you as a new tenant. You should get a copy of the lease and read it before you do this. You should also obtain a certificate from the landlord confirming the terms of the lease and that the lease is not in default. Hiring a good attorney to help you with this transaction could be the smartest choice you make this decade.

Re: lease

I don't understand why you would even by buying failing business if you didn't need much of was in the building. Unless the location is an opportunity that you simply cannot pass up, why not just find another location an negotiate a new lease directly with the landlord?

And you can forget whatever your agent is implying about the lease. You need written assurances and commitment from the landlord. You might not be able to legally assume the lease without the landlord's written consent. Have you seen the lease? When does it expries? Is the type of restaurant you want even allowed? How long is the lease? Can you negotiate an extension to make it feasbile for you?

Re: lease

You'd better get some legitimate legal advice and soon. All you'll get here is general guidance, not legal advice based on the facts and documents at issue. Are you seriously willing to make long term decisions and commitments with serious legal implications on a business without understanding even the terms and consequences of the agreements you have to sign, or without knowing what is missing, or knowing what you need for protection? Feel free to contact me if serious about getting the legal advice and help you need. Some A legal fees now are a lot better than huge litigation expenses later, or loss of your investment.

Re: lease

I agree with the basic gist of the other responses you have received but I will reiterate without the lecture. Your agent should have procured a copy of the existing lease, verified that the landlord approves of the transfer and that the change in use is agreeable (not to mention other concerns such as zoning, etc.) This is typically the time in which you should re-negotiate the lease for more favorable terms, especially given the downward trend in the San Diego commercial market. It is unfortunate you are not receiving competent representation from your agent. If you are interested, we handle commercial lease negotiations and small business matters on a flat fee basis -- not on a commission or hourly rate.

Re: lease

I agree that now is an opportunity to renegotiate the lease to see if you may be able to land a better deal. Contact me directly.