QUESTION
The brokers company wants to force the landlord to qualified the buyer or he is make a claim
Asked on Sep 03rd, 2014 on Business Law - California
More details to this question:
My business are for sale, but the contingent is the buyers need to qualified for the lease rental the landlord don't qualified him and know they want to force him to qualified or they place charges on him, also the dateline is past,they get the letter but is not on escrow, can i send to escrow?
1 ANSWER
2 Awards
Hi,
The broker is not going to be able to force the landlord to allow for the assignment of the lease to the potential buyer. The lease terms will govern whether or not the landlord is required to do so, but most leases typically allow for the landlord to have final say over whether a lease can be assigned. Often, the lease includes language that a landlord will not unreasonably withhold their approval, but in this case if the potential buyer has bad credit the landlord's refusal would not seem unreasonable.
Thanks,Jon
Answered on Sep 04th, 2014 at 11:44 AM