Re: Buy a Business Already Under a Lease Agreement with a Third Party
Unless the owners put some clause that allowed them or a subsequent purchaser of the property the right to terminate the lease upon a sale of the property, the lease remains intact until its natural expiration.
So, ask the owners if there is such a clause in the lease. If there isn't, it sounds like you need to walk away from this situation.
I am not an attorney and any advice is not to be construed as legal advice. You might even want to ignore my advice. Actually, there are plenty of real attorneys that you might want to ignore as well.