Can a commercial lease be broken if the lessee buys a building for their business?
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Can a commercial lease be broken if the lessee buys a building for their business?
We are a small business that is buying land to build for our business. However, we have 2 years left on our current lease.
Asked on June 7, 2018 under Real Estate Law, Florida
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
One thing has nothing to do with the other, that is unless the terms of your existing lease provide for its cansellation under the circumstances. Otherwise, whether or not you buy land to construct your own building does not relieve you of your obligations under your rental agreemnt. Bottom line, a contract is a contract.
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