Arizona  |  Business Law

Legal Question

Asked on: 7/19/13, 2:34 pm

We're in the process of buying a business. the current business owner is the only one listed on the lease for our facility. I'd like to have my name included on the new lease that will be signed next month. What do I have to do to get my name included on the new lease? Is it just a matter of asking or do I need to form a partnership or something similar?

1 Answer

Answered on: 7/19/13, 3:11 pm by Donald Scher

If you are willing to be liable for the rent and the other duties and obligations of the tenant, the landlord should be happy to have you on the lease at your request. It is clear to me that you are in need of good business and legal advice in the start up of your new business and purchase of the existing business. Your question tells me that you do not have a handle on who is actually buying the business or what legal entity is buying the business. If you have joined with others to buy this business, what agreements do you have with them? There are many other questions to ask and get answers to properly form a business, to make a lease of the business premises, and to go forward successfully.

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Donald T. Scher & Associates, P.C. 2200 E. Camelback Rd., #102 Phoenix, AZ 85255

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