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rvlaw, Attorney
Category: Business Law
Satisfied Customers: 8386
Experience:  NYC Trial Attorney 30+ years; Law professor ; BUSINESS LAW; CONTRACTS; TORTS; Arbitrator
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hi, i own a clothing store in nyc. my lease is expiring in ...

Customer Question

hi, i own a clothing store in nyc. my lease is expiring in 1 yr from now. i have a client who is interested in buying my lease, inventory, clientele list, just everything in the store. if she can negotiate with the landlord 'w/the option to renew' for another 5-10 more yrs. she has agreed to pay me a key $200-250K. My landlord allows sublet & assignment, they are willing to cooperate with deal. what papers should i prepare to acknowledgment of paying me key $? How much will i be taxed of this key money, apprx $150k might cover inventory, furniture, hvac, computer & systems etc so $100k might be my actual capital gain? i really think i need a business lawyer in ny, can you recommend me someone affordable? Thank yOu!
Submitted: 9 years ago.
Category: Business Law
Expert:  rvlaw replied 9 years ago.


You do indeed have many legal and tax issues that cannot really be dealt with adequately in this forum. It would involve review of existing agreements and the drawing of new ones with tax implications of all kinds.

I will get you a link to a directory we lawyers use to find highly qualified legal specialists in various fields at locations world wide. These lawyers are in the directory because they were rated as qualified by other lawyers in their field of expertise and geographic area.|Firm%20Size^2%20-%209&c=D

There were over 400 in this category in Manhattan. I just gave you the sublist of 2-9 lawyer firms. Good luck.


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