My question involves a commercial landlord-tenant premise rental agreement, that stated, all new assets and inventory purchased by the tenant will automatically belong to the restaurant property.
I'd like to know if this clause in my rental agreement is legal and valid?
The landlord is claiming rights to assets and inventory purchased by me, the renter, to operate my restaurant business.
The property was handed over to me in dire state and needed extensive renovation, I have photographic proof of the state it was in and have documented all the renovation work that I have carried out at my expense plus all the new assets and inventory that I have had to buy to ensure I adhere to food, safety and hygiene regulations. All the equipment that was in the restaurant prior to me renting it was end of life and not in any operable state.
All the old assets, inventory and fixtures have also been returned to the landlord.
I would like to know my legal rights here as I feel I have been cheated.
Thanks
I'd like to know if this clause in my rental agreement is legal and valid?
The landlord is claiming rights to assets and inventory purchased by me, the renter, to operate my restaurant business.
The property was handed over to me in dire state and needed extensive renovation, I have photographic proof of the state it was in and have documented all the renovation work that I have carried out at my expense plus all the new assets and inventory that I have had to buy to ensure I adhere to food, safety and hygiene regulations. All the equipment that was in the restaurant prior to me renting it was end of life and not in any operable state.
All the old assets, inventory and fixtures have also been returned to the landlord.
I would like to know my legal rights here as I feel I have been cheated.
Thanks
Rental Agreements: Landlord Claiming Rights of Ownership to Tenants' Assets and Inventory (Commercial)
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