Legal Question in Business Law in Massachusetts
business sale loss
i have lost the sale of my restaurant because the owner of the building made it impossible for the new buyer to have a fair lease aggreement so the buyer walked out of the deal. i plan to sue the owner for my financial loss and increased financial struggle trying to keep the business, i am hoping to put a lean on his building and when he sales i will get my money is that the best and only way of doing it? if his building is taken by his bank for default in his payments would i still get my money?
2 Answers from Attorneys
Re: business sale loss
Your questions are very complex and not easy to answer without more information. However, if you do get a judgment against your landlord it may be possible to get a lien. However, if the property is foreclosed upon, the first lien-holder, his bank, would get their money first. Further any tax liens or municipal liens would also take precedence. Good Luck.
Re: business sale loss
Your questions are very complex and I can't comment on the validity or ultimate success of your lawsuit.
Assuming you do get a judgment and file a lien, you will be in a secondary position as to the Mortgage. This means if the Mortgage is foreclosed and the building is auctioned, you will only recover money if the building is sold for more than your lien.
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