Q: Landlord is extending next door store. I spent $$ to purchase my store. What terms to negotiate when ending lease early
Landlord is extending the store next to mine in the building she owns. I spent a huge amount of money when I bought the store. What terms should I negotiate as the landlord is pushing me to end the lease early? Thank you.
A: You should definitely not act as your own attorney. You should, however, consult an attorney and explain your situation better. That'll help an attorney guide you. You should definitely be represented, here.
A: To be assured that the landlord will actually fulfill its obligations under any agreement you reach, a surrender agreement should be drafted and signed. This type of agreement can be drafted to require the landlord put any payment to be made to you into escrow with a third party (usually your attorney) before you take any steps to shut down your business. This protects you from being placed in the position of having shut down and the landlord changes its mind. You can even ask for the landlord to pay/reimburse your legal fees.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.