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Leon, Solicitor
Category: Australia Law
Satisfied Customers: 44631
Experience:  BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
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I have sold my coffee shop. Basically, the landlord has

Customer Question

Hi, I have sold my coffee shop. Basically, the landlord has approved the lease transfer but he hasnt signed the transfer because he is on holiday at the moment. Therefore, the buyer has settled in my shop and my lawyer is now holding the sale money in his bank trust. As because I dont have any income at the moment, can I ask my lawyer to at least release some of the money to me?
Submitted: 1 year ago.
Category: Australia Law
Expert:  Leon replied 1 year ago.

Good Morning.

My name is ***** ***** I am a NSW Solicitor. Thank you for your question, and will do my best to assist you with your question. Please understand this is not legal advise Please understand this is not legal advise but a guide to assist you.

Until the transfer and the assignment of lease is signed to protect the purchaser the money cannot be released. I am assuming the settlement took place on this condition.

You have to wait until the landlord finalises everything and the transfer of lease is signed and registered

You can ask the purchaser if they are prepared to release some money to you but it is there decision.

I am sorry I cannot give you anything more positive. If there is nothing further

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