Hi, I purchased a store from someone in nationwide outlet center with all merchandise and displays then I took over lease under my name I got my insurance for a year,business License, I also paid my first month rent and security deposit. My lease term starts from January 1st 2014 to December 31st 2014. It has been only ten days I am operating this business I spent over $50K to get this business yesterday I have received phone call from Property corporate office manager she told me they are renting my space to someone else and they will send me termination notice, I can't really believe how this happening, when I sign my leased I was thinking I secured the location for one year I spent too much money to take over this business it's been only ten days I am getting terminated even if they put this on the lease can they have right to this ?

Basiclly they put everything on the lease to protect theirself now they found someelse who is paying more rent than me l didn't t break any rules also verbally and on email she told me l am pretty safe during this lease term. What should l do ?

Who did you sign your lease with? If you have a valid lease with the landlord, they can't cancel it unless you have breached the lease in some way. However, if you signed a lease with the store owner, they certainly may be able to cancel HIS lease, which leaves you out in the cold. You would then have to sue the person your purchased the business from. Did you have an attorney look over the documents? I would suggest consulting with one.

l purchased store from someone but we notify the landlord which is a big nationwide company has malls in everystate. When we talked leasing manager she approved and they made me new one year lease under my name so l have a valid one year lease(from jan 1st to dec 31st 20014) with landlord and she told me l am safe for one year. They put everything on the lease protect theirself on the lease says they can terminate lease any time with 30 day notice l know this is my bad l really trust leasing manager words and signed the lease but it s not really fair now l don t know what to do.

It is not a "year" lease if they can terminate without cause with 30 day notice, it is just a month to month rental.

I think that the clause real meaning, is that if you break a term of lease, they can cancel with 30 day notice.

I would reject their comment, not agree and seek advice of local attorney.
Then let the attorney talk to them about this.

Also if it is a matter of money, you can offer to pay the new price. ** this may also be a cheat to get you to offer to pay more also. Depending on honesty of the chain

Termination Clause: Licensor or Licensee may terminate this License by providing
Written notice to the other party, such termination to be effective at 12: 00 midnight on the
Thirtieth (
30th) day after the date of such notice. In the event Licensee exercises its right
Of termination, Licensee agrees that Licensor shall be permitted to retain the full amount
Of the security deposit( as stated below) as an early termination penalty. ( Section 2)

2. TERM. The " Term" of this License will commence on January 1, 2014 ( the
Commencement Date") and shall continue for the period as stated in the Data Summary,
Unless earlier terminated in accordance with the terms hereof. Licensee shall pay all costs in
Connection with opening the Premises for business to the public. During the Term of this
License, and subject to all reasonable rules and regulations of Licensor, Licensee, its employees
And agents shall be entitled to the non- exclusive use of the parking areas, driveways and
Walkways within the Shopping Center as such exist from time to time.

Copied some parts of lease

Delivery Date: January 1, 2014( Section 5)
9. Fixturing Period: INTENTIONALLY DELETED( Section 2)
10. Opening Date: January 1, 2014( Section 10)
11. Expiration Date: December 31, 2014( Section 2

Quote:

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Originally Posted by glock

Termination Clause: Licensor or Licensee may terminate this License by providing
Written notice to the other party, such termination to be effective at 12: 00 midnight on the
Thirtieth (
30th) day after the date of such notice. In the event Licensee exercises its right
Of termination, Licensee agrees that Licensor shall be permitted to retain the full amount
Of the security deposit( as stated below) as an early termination penalty. ( Section 2)

2. TERM. The " Term" of this License will commence on January 1, 2014 ( the
Commencement Date") and shall continue for the period as stated in the Data Summary,
Unless earlier terminated in accordance with the terms hereof. Licensee shall pay all costs in
Connection with opening the Premises for business to the public. During the Term of this
License, and subject to all reasonable rules and regulations of Licensor, Licensee, its employees
And agents shall be entitled to the non- exclusive use of the parking areas, driveways and
Walkways within the Shopping Center as such exist from time to time.

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Again, I ask if you had an attorney look over the paperwork. I doubt if a good attorney would have let you sign a lease like that allowing them to terminate with 30 days notice. But the clause is clear, it gives either of you the right to get out of the lease. The fact that it applies to both of you, makes me feel it would not be overturned by a court.

Frankly, you screwed yourself by signing that lease and the only option I see is offering to pay the higher rental if they remove that termination clause. Or maybe negotiate to move to a smaller space in the same mall. Otherwise your only other option is to find new retail space and move your stock to the new location. I don't know whether you can move any of the fixtures (counters, display cases, shelving), that would depend on the terms of what you actually own.