Updated almost 9 years ago on . Most recent reply
Transferring commercial lease - CA
Hi there,
One of our commercial tenants (property is in California) wants to sell his business and retire. We renewed his lease earlier this year with the knowledge that he might sell his business soon.
What process would you experienced BiggerPocketers recommend to do a commercial lease assignment to a transferee? By the way, he has a buyer for his business lined up who owns several businesses of the same kind.
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@Khaled Seirafi Check the lease agreement to see if their is a sublease provision. Many commercial leases have them. Is the new buyer assuming the lease or are they wishing to throw it out?