Lease Reminders During a Transition
If you lease your facility, consider the following, as they are very important factors to the buyer and the lenders:
- Do you have a valid and up-to-date lease agreement?
- How many years remain under the lease agreement including options to renew?
- Have you personally guaranteed the lease?
- Communicate with your landlord what your intentions and timeline are, in advance, to ensure the lease can be assigned or that the buyer can obtain a new lease.
- Have your attorney review the lease to ensure there are no stipulations in the lease agreement that would cause an issue in the transaction.