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ARTICLE · 11 FEBRUARY 2015

Taking Over Existing Leases: A Tenant’s Perspective

Miller Thomson
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In many transactions involving the purchase and sale of a business, the seller may not own the property where the business is carried on but may have an existing lease of the property.

CanadaReal Estate and Construction
Max Maréchaux
Max Maréchaux
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In many transactions involving the purchase and sale of a business, the seller may not own the property where the business is carried on but may have an existing lease of the property. In a situation where there is a lease, the buyer often requires the continuation of the lease in order to carry on the business after the completion of the transaction. This can involve an industrial, retail or office lease. Take, for example, the purchase of a warehouse and distribution business, the purchase of a chain of restaurants or retail stores, or even the purchase of a professional or other service firm. In each of these cases, the lease will likely be a key element to the ongoing operation and ultimately the success (or failure) of the business. It is important, therefore, to carry out a review of the lease. The extent and detail of the review will depend on the nature of the transaction. An experienced commercial leasing lawyer and commercial leasing agent are the best people

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