Business/Real Estate Contract

[haegrrl]

What is the name of your state? Texas

I entered into a business property contract with someone who portrayed themselves as the owner of the business and real estate property. I have recently found out that someone else is the owner of the business and real estate property that I had intended to purchase and the real owner doesn't want to sell. What legal recourse do I have? I have been leasing the business and real estate property for 6 months now.

 

[Paddy Reagan]

Was the person who entered into the contract with you acting as an agent for the owner? Was the owner aware of the contract? Your brief description suggests that the contracting party grossly misrepresented his authority and intent. Unless there are mitigating circumstances, one would probably call that fraud. Find a local attorney to guide you. The threat of a criminal complaint may give you leverage to retrieve some of your investment.

 

[nextwife]

What is the name of your state? Texas

I entered into a business property contract with someone who portrayed themselves as the owner of the business and real estate property. I have recently found out that someone else is the owner of the business and real estate property that I had intended to purchase and the real owner doesn't want to sell. What legal recourse do I have? I have been leasing the business and real estate property for 6 months now.

JUst an FYI- I recommend that, at minimum, any commercial leasee first obtain a letter report from a title company. This will not only tell you if you are actually dealing with the owner, but also if they are in foreclosure, or have other legal actions against them that would affect the real estate and cause it to be at risk . The $150 or so cost is far less than the cost of relocating your business.