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Say your business decided to lease space within a plaza or inside a building where other businesses operate. You are in the process of negotiating the terms of your lease with your landlord. An attractive feature of leasing at this location is that there are no other businesses on the premises who sell the same product, or offer the same service as you. If you sell electronics, you may want to negotiate with the land lord to add a clause in the lease where the landlord agrees not to lease within that building to another tenant who sells electronics or offers.
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How does the homestead exemption protect people’s assets? Say you own a home which is your primary residence which is worth $500,000.00, and has a first mortgage of $250,000.00 with no other liens. That means you have $250,000.00 of equity in your home, and if you sell your home you will receive $250,000.00 (less closing costs, brokers’ fees, etc.).
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Joseph PerlJoseph Perl specializes in civil litigation with a focus on debtor and creditor disputes, and commercial debt collection. Archives
July 2024
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