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Joshua, Lawyer
Category: Law
Satisfied Customers: 26070
Experience:  LL.B (Hons), Higher Prof. Dip. Law & Practice
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I bought a shop from 2 ladies. This was done

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I bought a shop from 2 ladies. This was done privatley as they said it was easier and cheaper. the lease as done for them to keep it for 9 months.Then i would take it over when i take over. This was done 2013 april. At the start of this year i have lost money and cannot pay anything .I thought i had not sighned and cam out of the shop. But i have and i cannot pay for anything . what can i do
Hello and thank you for your question. I will be very pleased to assist you. I'm a practising lawyer in England with over 10 years experience.For the avoidance of doubt please, from what you say you have signed a lease for the premises to take effect as above. Is that correct please?Are the ladies the freehold owners of the premises or are they leasing the shop from another themselves?
Customer: replied 3 years ago.

i took the shop over in december 2013. And the ladies leasing the shop. THey had just at the end of a three year lease and i said i would buy the shop in april of 2013. But could not take over until december 2013 they signed the lease april 2013 until november 2013 .so i have had the shop 16 months

Thank you. So to be clear they have signed a new lease for the shop with the landlord and you have signed an agreement with those ladies to take over that lease. Is that correct?
Customer: replied 3 years ago.

yes.But i think i had to sign to as i was taking over the lease.And i have a letter from the shop owner they will take legal action

Thank you. If you have as you fear signed either an agreement for lease or a lease itself then this is considered to be a commercial agreement and there is no cooling off period or right of cancellation unfortunately. Therefore there are two steps to consider:1) first it is important to review the legal agreement or lease you have signed in detail to ensure you fully understand the liability you have taken on. If you have signed the agreement personally (i.e. not through a limited company you may own) you may have personal liability for the rent for the unit from the date of assignment though this could be offset if the ladies have remained trading in the unit after this date. You can either instruct a solicitor to help you with this which should cost around £400 + VAT for an initial consultation or alternatively I would be hapy to review the documents and let you know your position for around £125.2) Once you understand fully your liability you can then look at ways you can possible get out of the agreement you have signed. As above there is no right of cancellation but there will often be a right of assignment of the lease so that you can assign the lease to a new tenant which either you can find or you can ask an agent to find on your behalf. It may also be that there may be defects in the lease agreement you have signed which may allow you to avoid the agreement - again a solicitor or I could assist you with identifying any that may exist. I hope the above is of assistance? If you have no further questions for now I should be very grateful if you would kindly take a moment to click to rate my service to you today or just reply back to let me know if the above is helpful. Your feedback is important to me. If there is anything else I can help with or you would like me to review documents for you please reply back to me.
Customer: replied 3 years ago.

ok can i ask you about the last part of the lease surety ?

Certainly - how can I help with that?
Customer: replied 3 years ago.

i am not sure but when i googled it i undrstood it went back to the people that had it before ?

The law on business tenancies is very complex and it can depend upon a great many factors which would take pages and pages to cover. However at a very basic level, you are essetntially correct that if the lease comes to an end and the ladies vacate then the lease finishes and the freeholder gets the property back and would need to grant a new lease. However this is a very simplistic explanation and many factors could apply as to why this would not be so. You may be able to establish that you are not liable if they cannot give you a least over the premises. It would be necessary to examine the document(s) you signed to give an accurate assessment of what is the case here which either I would be happy to do as above or you would need to make an appointment to see a solicitor to go through them with you. Can I help you with anything else or has the above answered your questions satisfactorily?
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