Legal Question in Business Law in Minnesota
Someone acquiring to purchase my business do I give them the key after they make the deposit??
Asked on 11/02/13, 6:41 pm
2 Answers from Attorneys
David Anderson
Anderson Business Law LLC
No key until the parties execute closing documents which are normally prepared by their
Attorneys
Those are preceded by an Asset Purchase Agreement
Which protects both parties from ambiguities and misunderstandings
Answered on 11/02/13, 7:26 pm
Tricia Dwyer
Tricia Dwyer Esq & Assoc PLLC
Hello. Generally, keys would be exchanged at closing and not before unless special agreements were made with full appropriate protective insurance in place. I urge you to seek attorney counsel in this transaction.
Tricia Dwyer Esq
Ph: 612-296-9666
Tricia Dwyer Esq & Assoc PLLC
Answered on 11/03/13, 7:21 am
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