Legal Question in Landlord & Tenant Law in Oklahoma

Re: Lease Agreement

Need to read the lease agreement terms to advise. The agreement controls. If with an individual (John) and he sells the business he may be in breach. Esp. if there is a prohibition of assignment.

Re: Lease Agreement

There are many legal consequences. John remove and distance himself from this situation and the new owner immediately. This new owner and/or new company has the legal and ethical responsbility to change and transfer the lease and property to his/her name or the company name. It is not John's problem or responsibility and he must remove himself immediately. Otherwise, he is setting himself up for a lot of legal liability problems or issues.

Re: Lease Agreement

When the property was sold and transferred to a new owner, so was ownership and liabliity. No other agreements should exist unless it was a partnership, merge or franchise that bounded current and previous owners under an operating agreement,a subsidiary or auxiliary arrangement protected by law. Additionally, they must consider tradename or intellectual property issues....to name a few. Eitherway...it is recommended that the previous owner all ties to the new owner. This includes removing himself and his company from the lease.