I closed my small business on 7/31/13. I took over the commercial lease from the previous owner who was responsible for the original build-out of the unit. Upon closing my business, I have liquidated all equipment and furnishings and returned unit to essential bareness. The landlord is now withholding my security deposit until a 'white-box' is returned to him, i.e. removing tile flooring, a structural front-store counter, etc. I do not recall a clause in the contract pertaining to build-outs. What are my legal obligations if no such clause exists?
1 Answer from Attorneys
If that clause doesn't exist, then you have no obligation. It is very standard in commercial leases. Check with an attorney if you have questions.