What happens if the new business owner breaks the land contract?
We are subleasing our gas station business to new buyer. we are fiancing him short term (one month) part of the money till he gets all the reamining money from the bank( he is borrowing on his other houses – rental business). What happens if he does not come up the money? Can we legally ask him to forfeit his money ($90,000) if he does not com eup the money? what are the legal steps involved to get our money and also to get him out of the gas station if he does not bring the remaining money. We plan to have a land cotract short term like a brifge loan.