Meeting with Landlord & Seller tomorrow!!!!!!!!!!

[system]

I am meeting with the landlord and seller(different people) tomorrow to start negotiating the assignment of the lease. I want to have the lease assigned and the seller wants to work out a deal of subletting the first two years so if i default he will get the business back. Has anyone heard of buying a store from the seller(seller finainced)…then subletting for two years till the landord feels comfortable about assigning?
thanks

 

[system]

happens all of the time, often without the landlord’s knowledge/approval (which can be a risky approach, to say the least).

if i were the seller carrying the note, i would be sure to have an indemnification agreement ready for you to sign in the event the business is sued during your watch, i would also recommend that you have the seller sign an indemnification contract of your own to protect you against past liabilities that might surface after you take ownership.