Consumer Law, Warranties Lease of a business and business property

[buzzs105]

We are considering leasing our gas station/convenience store and property to a chain. They have interest in doing so, but I wondered what we should be aware of before we begin negoatiations. Such as who would be responsible for any accidents on the property ?

 

[army judge]

You should not proceed in this endeavor until you've retained an attorney. They won't have one. They will have a team of lawyers! If you're as smart as they are, you should have at least one.

 

[buzzs105]

I do have an attorney, who advises against a lease, he feels I should sale the business outright. The only problem with that is
there are no buyers interested that are willing to pay the amount I feel I should get for it. Many many buyers want it for next to nothing, basically what we paid for the business 16 years ago. No one can or will even come close to the appraised value. I actually inherited the business from my husband who was killed in an automobile accident 11 months ago. Basically , I want out and at least a few chains have offered to entertain lease options. My account feels that may be the better option, as my son and I would at least still have an income. So I just wondered what perticularly I should be looking at when presented with a lease offer

 

[army judge]

I do have an attorney, who advises against a lease, he feels I should sale the business outright. The only problem with that is
there are no buyers interested that are willing to pay the amount I feel I should get for it. Many many buyers want it for next to nothing, basically what we paid for the business 16 years ago. No one can or will even come close to the appraised value. I actually inherited the business from my husband who was killed in an automobile accident 11 months ago. Basically , I want out and at least a few chains have offered to entertain lease options. My account feels that may be the better option, as my son and I would at least still have an income. So I just wondered what perticularly I should be looking at when presented with a lease offer

Madam, please accept my condolences upon the passing of your beloved husband.
Formalities and niceties aside, speak to your attorney and your accountant.

You don't know me.
Do not trust such an important decision to strangers on the internet.

This forum is intended to offer general legal advice and common sense.

You shouldn't be seeking financial advice here or from anyone you don't know.

Then take that with a pound of salt and caution, before you proceed.

 

[buzzs105]

Thank you for your kindness and direction. I do know better, again thank you