Q: I'm looking to purchase a gym. However, the owner owns the equipment and buildingnis leased in his name.
His ex-manager has the LLC in his name. Both are in dispute and not talking to each other. One wants to sell the equipment and told me I can start over with a new name. Can he do this?
A:
In the situation you've described, where the gym owner, the ex-manager, and the equipment are all involved, there are several legal and business considerations to take into account.
Firstly, the ownership of the equipment and building should be clarified. If the gym owner owns the equipment and the building is leased in their name, they may have the right to sell the equipment. However, if there are any disputes or agreements in place between the gym owner and the ex-manager, these could impact the ability to sell the equipment.
Secondly, the ownership of the LLC that operates the gym is also a crucial factor. If the ex-manager has the LLC in their name, they may have control over the business operations and decisions, which could affect your ability to start over with a new name.
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