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In New Jersey, the ABC Act control liquor licenses. The law does not allow for the sale or transfer of those licenses as property, yet it does occur.
The licenses are sold often when a property is leased or sold which will need a liquor license. These are not "leased" licenses. What you may find is that a contract may require that the original seller of the liquor license include a "first right of refusal" in there contract. This means that if the party who bought the license decides to sell they must first offer it to the party from whom they bought. This can also be tied to a lease such as if a party defaults on a commercial lease for a bar or restaurant, then they must sell the license to the landlord via the first right of refusal.
The key is having an attorney in New Jersey create a contract meeting your specific needs.
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My question was not addressed by your answer. My question is about leasing a liquor license, and doing it legally with ABC Board approval.
You said that: "The licenses are sold often when a property is leased or sold which will need a liquor license. These are not "leased" licenses."
I am not sure what you're saying. Are you saying that the law does not permit a licensee of a liquor license to apply to the local ABC Board for a "transfer" of the license in the form of a lease of the license? Does every "transfer" have to necessarily be a "sale" as opposed to a "lease"?
Conceptually, I see no reason why an ABC Board can't approve the lease of a liquor license. However, I might be missing something. So what I'm looking for is whether you know that leasing a liquor license is something that no ABC Board is legally authorized to do.