It was an asset purchase.
to be honest, I am not sure. I will have to go back to the Asset purchase agreement and look. In reality, I don't really care if the mail is forwarded. I am tired of sending them their checks and bills. What I care about is if this will cause me any problems by no longer receiving any type of mail regarding my past business. I have had many little detail like this cause me problems and I just want to make sure I am covering my back side. If this is standard practice, then I don't want their mail anyway. I am delighted to be rid of it all. But just last week I got a notice from the BWC telling me that my unemploymemt insurance account is still open and an employee filed a claim. I had to fill out some paperwork to close the account. I would of course not have gotten this if all mail was forwarded. Then what? Is there other legal issues that i may be notified of that I will miss that might cause me problems? If not... then great. Let them change the address. THANKS
ok good, then you can forward the mail to the new owner without concern of any claim against you arising from the current operations of the business. Hopefully, in your purchase agreement the buyer agreed to assume liability for any claim against the business not raised at or before the closing on the purchase of the business. Please let me know if this does not answer your questions or if you have any follow up questions. If I have answered your questions, please positively rate my answers.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).