Legal Question in Business Law in Florida
Commercial Leasing
In the process of opening a cell phone store. I'm required to have a building leased and insured. Keep in mind that the building needs to be approved by metropcs for location to sale products and services. Is there some type of contigency form or can I have one typed up and signed to allow to recoup my deposit if building isn't approved by METROPCS?
2 Answers from Attorneys
Re: Commercial Leasing
Yes there is and it is important to negotiate and document legally this contingency.
I would strongly suggest you e-mail me your telephone number to schedule a telephonic conference to discuss this in greater detail.
Re: Commercial Leasing
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This is certainly something that can be negotiated with the landlord. It is not unusual to have the obligations under a commercial lease or agreement of sale to be contingent upon the occurrence of an event; i.e. receipt of zoning change, approval of franchisor, obtaining financing. The key is that the all of the terms of the contingency must be in writing and signed by the parties. I strongly recommend that you engage a real estate attorney to negotiate the lease terms, including this contingency, so that your deposit is protected in the event the location is not approved.
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