Retail leasing FAQ9: I want to sell my retail business. Do I have to tell the landlord?
I want to sell my retail business. Do I have to tell the landlord?
Not required to until you have a buyer and wish to seek the landlord’s approval to transfer the lease to the new person
Lessor cannot unreasonably withhold approval but are entitled to reject any proposed assignee who doesn’t meet the essential criteria which includes; - Substantially the same permitted use - Qualified/experienced to operate that type of business - Financially able to meet all lease obligations