Legal Question in Landlord & Tenant Law in California

Contract Statement

The buyer of our business has defaulted on the lease of the commercial property. We have been noticed by the landlord of abandonment and responsibility to them. Is our buyer (the transferee) responsible to us for repayment of any charges we incur based on the following statement from our transfer agreement?:

Transferor and Transferee agree to indemnify, save & hold harmless each other from any and all claims & causes of action arising out of their respective possession/operation of said business.


Asked on 6/09/09, 10:21 pm

2 Answers from Attorneys
Daniel Bakondi The Law Office of Daniel Bakondi

Re: Contract Statement

I need to review your paperwork to see if the way you formulated your transaction exposes you to liability. I have dealt with similar issues and of course have done commercial lease litigation. Contact my office.

Best,

Daniel Bakondi, Esq.

IMPORTANT:

No attorney-client nor confidential relationship is created through this communication. You may not rely in any way on this communication, and nothing herein constitutes legal advice nor legal opinion. Your issue may be time sensitive and may result in loss of rights if you do not obtain an attorney immediately.

Read more
Answered on 6/09/09, 11:11 pm
Larry Rothman Larry Rothman & Associates

Re: Contract Statement

From the clause you cite, you apparently have the right to recover any of your loses. You may be liable to the landlord based upon the lease. We would have to review all documentation you have to answer any further questions you might have.

Read more
Answered on 6/10/09, 10:57 am


Related Questions & Answers

More Landlord & Tenants questions and answers in California