Legal Question in Business Law in Minnesota

Someone acquiring to purchase my business do I give them the key after they make the deposit??

Asked on 11/02/13, 6:41 pm

2 Answers from Attorneys

David Anderson Mahoney Anderson LLC
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No key until the parties execute closing documents which are normally prepared by their

Attorneys

Those are preceded by an Asset Purchase Agreement

Which protects both parties from ambiguities and misunderstandings

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Answered on 11/02/13, 7:26 pm
Tricia Dwyer Tricia Dwyer Esq & Assoc PLLC
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Hello. Generally, keys would be exchanged at closing and not before unless special agreements were made with full appropriate protective insurance in place. I urge you to seek attorney counsel in this transaction.

Tricia Dwyer Esq

Ph: 612-296-9666

Tricia Dwyer Esq & Assoc PLLC

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Answered on 11/03/13, 7:21 am

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