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Do you handle commercial lease issue. Ontario canada. Not…

Customer Question
Do you handle commercial...

Do you handle commercial lease issue

Lawyer's Assistant: Because laws vary from place to place, can you tell me what state the property is in?

Ontario canada

Lawyer's Assistant: Has anything been filed or reported?

Not yet but threatening to seize equipment and sell off

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

Have been paying every week just not enough

Submitted: 7 months ago.Category: Canada Law
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Answered in 18 minutes by:
12/14/2017
Lawyer: Debra, Lawyer replied 7 months ago
Debra
Debra, Lawyer
Category: Canada Law
Satisfied Customers: 105,579
Experience: Lawyer
Verified

Hello! My name is Debra (formerly known as Legal Ease). Thank you for your question. I'm reviewing it now, and will post back again shortly.

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Lawyer: Debra, Lawyer replied 7 months ago

I am sorry to hear this.

Please set out the basic facts and then your specific question.

Is there a written lease?

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Customer reply replied 7 months ago
we have lease
Customer reply replied 7 months ago
Lease in place until end of February 2018, received 6 month's notice that building sold and we have until end of lease. Now for tax reasons landlord wants to close sale on December 20.
Customer reply replied 7 months ago
Now states that if arrears not paid by that date will seize assets and auction them off
Customer reply replied 7 months ago
Rent arrears 2500 dollars and loan and utility 2500
Customer reply replied 7 months ago
They have lean on equipment but equipment worth at least 25000 way more than owed
Lawyer: Debra, Lawyer replied 7 months ago

If they do have a lien on the equipment they can seize it and auction it off.

You will get whatever is left after the sale of the equipment less what is owed plus all the costs they incurred in seizing the assets and auctioning them.

It is by far better to pay them off given the costs you will have to pay for and also they will get less than the equipment is worth.

Does that clarify the issues?

Please feel free to post back with any follow-up questions you may have. If you don't have any then I hope I have earned a 5 star rating but if you don't feel that I have please don't hesitate to reply back and let me know what more I can do to assist you. Finally, please know that even after you rate me I will be here for you and you can ask follow-up questions if you think of them later on at no further charge of course.

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Lawyer: Debra, Lawyer replied 7 months ago

Is there anything more I can help you with at this point in time?

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