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 Anderson Business Law LLC

No key until the parties execute closing documents which are normally prepared by their


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

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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