Re: Selling a business in a leased property


Sparks wrote:
Hi,

We have a commercial property that is leased to two people.
The "second" person has parted company with the first person.
The first person is now running the business on their own, and paying the
rent to us on their own.

This remaining person would like to sell the business, but the lease is in
joint names.

What are the options available here?

It is really over to the two people to resolve and to come to you as
landlord with a proposition.

You can help the 'first' person by being willing to allow the 'second'
person to assign his/her share of the lease to the 'first' person - in
any case you would need a good reason to refuse such an assignment -
trying to screw more rent out of the situation is not a good reason.

.

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