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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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My business partner and I are buying an existing business,

Resolved Question:

My business partner and I are buying an existing business, the current business owner also owns the property freehold, hence has no lease. For us to take it over he needs to get us a 10 year lease drawn up. Who is liable to cover the cost for this? Is it the vendor, buyer or 50:50?
Submitted: 3 years ago.
Category: Law
Expert:  Ash replied 3 years ago.
Alex Watts :

Hello my name is ***** ***** I will help you with this. Please note that I am a working Solicitor and may be on and offline as I have to attend Court and meet with clients, even at weekends. As such you may not get an instant response when you reply as this is not an ‘on demand’ live service, but rest assured I will be giving your question my immediate attention upon return. There is no need to wait here, you will get an email when I reply.

Alex Watts :

There is no right or wrong person

Alex Watts :

It depends on who you agree

Alex Watts :

But usually the tenant is responsible for the Landlords costs

Alex Watts :

So it can be you split it 50:50 with the existing owner or yo agree they or you pay it

Alex Watts :

But it would normally be the tenant

Alex Watts :

Can I clarify anything for you about this today please?

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