Legal Question in Business Law in New York

Re: Leasing business and equipment

Location, location, location!!!

The benchmark is what the traffic will bear, provided you have a creditworthy tenant.

It appears that you really need a lawyer for a deal as complex as you describe.

Re: Leasing business and equipment

There are a host of issues and concerns which should be addressed in your case. An agreement should provide for maintaining a security interest in the equipment until the purchase price is paid in full, and a UCC-1 should be prepared and filed at the appropriate county clerks' office. You must consider whether the Leasee/purchaser is a corporation or an individual. If a Corporation, are you getting a personal guarantee on the lease or purchase. You must consider the risk of loss, or damages to the leased equipment or property, and who is responsible for same. You must consider if, and to what extent any lease payments are to be attributed towards any potential purchase. These are just a few of the issues that must be considered and addressed in a transation of this type. Should you need additional info please feel free to contact my office.