Where a lease requires the tenant to obtain the landlord’s consent, the Property Law Act 2007 says that the landlord cannot ‘unreasonably’ withhold or delay that consent. Any considerations or obligations to consent set out in a lease must also be reasonable.
So you have found a business that you are interested in buying. Before you enter into the sale and purchase agreement you should complete an initial appraisal of the business. You should try to identify the business’ major strengths and weaknesses so that you can address any concerns in the sale and purchase agreement and in setting the purchase price.
In this article we consider the options a landlord has when a tenant has breached its lease. We also consider the steps a landlord is required to take in order to cancel the lease.
A guarantee is a promise from you that you (the guarantor) will meet the obligations of another party should they default in any arrangement with a third party. They are commonly used by lenders and banks.