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conveyance of business assets

Conveyance of Business Assets

Sale and purchase of business, especially small business transactions, are one of the more common dealings after real estate conveyancing. Unlike sale of real estate, business sales are much more complex. Issues regarding goodwill, stock, turnover, lease and related licence need careful review if the sale if to proceed in a satisfactory manner.

The old fashion “walk in walk out” deal is not recommended as so many things can go wrong. This is especially so with purchaser who may suffer financial loss and even unable to continue to trade if the issues of goodwill, trademark and lease are not resolved before paying the final price. Acquiring shares of a company which manages the business is also problematic as the purchaser may end up not just buying the business but the liabilities incurred too.

It is important to obtain legal advice from the word go and before signing any preliminary / head of agreement as these documents may have legal consequences too. More than anything else, it is important to have proper legal advice throughout as business sales involve more intricate steps to be taken along the way. Getting the sequence and arrangement right may make a great difference in the success of the transaction.

Our comprehensive range of service are:

  • Preliminary advice regarding value of business and lease
  • Advice on terms of contract
  • Equipments and fittings to be included
  • Searches and inspections required before and after exchange of contract
  • Licences required and transfer of licence
  • Dealings with finance provider
  • Trials of business and expected takings
  • Transfer of existing lease or grant of new lease
  • Preparation and explanation of financial adjustments and settlement figures
  • Stock takes prior to completion
  • Employee issues
  • Comprehensive advice and strategies in the event of disputes occurring during the conveyance process

Contact Us

Call Us

61 2 9267 0477

Fax

61 2 9267 0847

Email Us

info@pancificlegal.com.au

Our Location

Suite 1802, 233 Castlereagh Street, Sydney NSW 2000