There are two basic structures for transferring a business.  An asset sale is where the buyer purchases a collection of assets and legal rights (and sometimes liabilities) relating to the business.  An example of this might be a grocery shop business where the buyer purchases the business premises, fixtures, fittings and equipment used by the business, stock and takes on the employees.  Most transfers of small businesses are asset sales. 

What steps you can take to remedy a breach depends on the type of breach, what the lease says and what your aims are, in relation to the property. By your aims in relation to the property, what we mean is whether, for example, you want to get the tenant out of the property or you just want your tenant to put the breach right and then remain.

When dealing with commercial properties it is advisable to carry out property searches and surveys along similar lines to when you buy a new house.  Here we outline the main types and why they are important.  

A typical commercial lease could be anything from 20-50 pages and contain many thousands of words.  Every single sentence and word put in the lease is there for a specific reason and each has a specific legal technical meaning.  

New research by Direct Line for Business has highlighted the potential financial consequences for small businesses that are unexpectedly forced to stop trading because of a disruption.