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  1. #1
    Join Date
    Nov 2007
    Posts
    4

    Default For Sale Sign

    I am currently in negotiations to purchase a building I am currently leasing.

    In an attempt to find other buyers (create competition) the seller has told me they will be putting a For Sale sign up on the property.

    My lease specifically allows them to put up a For Lease sign within 60 days of the termination of my lease if I have not opted to renew or am still in negotionations for renwal terms. This is done to prevent my business from being harmed due to a For Lease sign.

    There is no mention of them being allowed to put up a For Sale sign.

    I feel a For Sale sign posted on the property I am leasing and conducting business on would cause harm to my business.

    Since there is no clause in the lease allowing them to put up a For Sale sign, can I prevent it?

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: For Sale Sign

    Would it cause more harm than a "for lease" sign? Is your primary opposition that it might damage your business, or fear that they may get a better offer? After all, if you don't buy or renew your lease you had better start putting up "Moving to a New Location" signs.

  3. #3
    Join Date
    Nov 2007
    Posts
    4

    Default Landlords Right To Post 'For Sale' Signs

    I have asked this before and received a reply from the gracious Mr. Knowitall. The post is rather old so I am repeating it here along with the reply and further questions.

    Original Post
    I am currently in negotiations to purchase a building I am currently leasing.

    In an attempt to find other buyers (create competition) the seller has told me they will be putting a For Sale sign up on the property.

    My lease specifically allows them to put up a For Lease sign within 60 days of the termination of my lease if I have not opted to renew or am still in negotiations for renewal terms. This is done to prevent my business from being harmed due to a For Lease sign.

    There is no mention of them being allowed to put up a For Sale sign.

    I feel a For Sale sign posted on the property I am leasing and conducting business on would cause harm to my business.

    Since there is no clause in the lease allowing them to put up a For Sale sign, can I prevent it?

    Reply
    Would it cause more harm than a "for lease" sign? Is your primary opposition that it might damage your business, or fear that they may get a better offer? After all, if you don't buy or renew your lease you had better start putting up "Moving to a New Location" signs.


    Further Questions
    I feel that both types of sign would cause harm. Further I fully plan on renewing my lease in the event I am unable to purchase. I am not too worried about them getting a better offer. My business is membership based and clients have to feel confident that we will be around. A for sale sign obviously does not help with this. Below is the only clause in the lease that speaks of access and types of signs permitted by the landlord. Based on this is there any foreseeable way to prevent a fore sale sing?


    Lease clause

    13. ACCESS AND FOR RENT SIGN
    Lessor hereby reserves, and Lessee hereby grants to the Lessor or Lessor’s agent. the right to enter the leased premises during normal business hours for the purpose of inspecting the premises or of making repairs. additions or alterations to the premises pursuant to this lease. Lessor shall conduct such inspection and repairs without causing any interference with the operation of the business, unless an emergency exists. The Lessor shall have the right to place and maintain “For Rent” signs in a conspicuous place on said premises for sixty (60) days prior to the expiration of this Lease, only if the renewal option has not been exercised by the Lessee. If negotiations of the new lease are ongoing, the “For Rent” signs may not be installed until the negotiations have terminated. Lessor may enter premises for emergency repairs at any time.


    Thank You

  4. #4
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Landlords Right To Post 'For Sale' Signs

    The lease clause you posted doesn't restrict them from selling the property or posting a "for sale" sign. However, your exclusive right of access may prevent them from doing so on areas of the property controlled by the lease.

    It's been a couple of months, and you still haven't worked this out?

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