Legal Question in Business Law in Florida
Selling a corporation
I want to sell my corporation by selling ownership of stock. Does the landlord have the right to the new buyer's personal financial statement? And does the landlord have the right to require the new buyer to have a guarantor? These are problems we are encountering with the landlord.
2 Answers from Attorneys
Re: Selling a corporation
The tenant remains unchanged. If you did not sign a personal guarantee, the landlord's risk remains unchanged. If you did, then there may be merit in the landlord's position. The ultimate answer may need be resolved in Court.
Re: Selling a corporation
What does the commercial lease agreement say regarding these issues? Did you have to sign the original lease as personal guarantor? Did you have to provide financial statements before being able to sign the lease and occupy the premises? The answers to these questions may provide some guidance.
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