Legal Question in Real Estate Law in Florida
restaurant equipment
i leased a space where i opened a restaurant. i bougth all the equipment and remodeled the space at my expense. now iam selling the restaurant with everything that i bougth included. the landlord tells me i can not include the kitchen hood, wich i bought and had intalled (have recipts over $15,000) and the ac unit, because they are part of the structure now. our lease agreement does not mention anything about that.
3 Answers from Attorneys
Re: restaurant equipment
What you added enhances the value of the restaurant and the of the landlord's property. But as added value to the restaurant you can re-coup the expense by raising the asking price even if you cannot transfer title to the items. Form the wording of your question, I assume the items to be fixtures and that ownership enures to the landlord. Consult with competent counsel.
Re: restaurant equipment
The parties intent would control this situation. If the item is so attached to the premises as to require damage to the premises in its removal it may be considered a fixture and attach to the premises. If removal will not cause damage to the premises it is still considered personlty. What does your lease say? What is the custom in the restaurant business?
Re: restaurant equipment
I would have to read the lease to give you any meaningful guidance on this issue. If the lease indicates that new fixtures or improvements become part of the premises owned by the landlord, then you may have a problem.