The Sneaky Lease Clause That Could Have Cost My Client Everything
Not long ago, I advised a client who was looking to purchase a local business. Everything seemed straightforward: the Contract of Sale included a lease with a year left to run, plus two further options of five years each. On the surface, it looked like my client would have secure tenure for over a decade.
But contracts often hide surprises. Buried deep in the fine print was a clause that read:
“No commitment has been given or intimation made by the Lessor or anyone on its behalf that the Lessor will give a further lease of the premises after the terminating date.”
This clause directly contradicted the lease’s “options to renew.” If enforced, those options would be worthless. When I raised the issue and requested its removal, the landlord refused.
I advised my client not to proceed with the purchase — after all, who wants to buy a business without guaranteed premises beyond one year? It was a near miss that could have cost them their livelihood.
In my 29 years of legal practice, this remains one of the most underhanded examples of drafting I’ve seen. Sadly, it’s also a stark reminder that contracts are often designed to protect the other party — not you.
The lesson? Always have an experienced solicitor review your contracts before you sign. What looks like a great deal may, in fact, be someone else’s problem waiting to land in your lap.
Trademarking a Business Name After Buying a Business
Are Testamentary Trusts still worthwhile?
Are Testamentary Trusts still worthwhile? Find out what we think about Testamentary Trusts and the proposed new changes to laws affecting trusts. This has been at the forefront of almost every conversation I have been having with clients about wills and trusts...
Independent Legal Advice for Retirement Village Contracts in Hervey Bay
Moving into a retirement village, lifestyle resort or over-50s community can be an exciting step, but it is important to understand the legal and financial obligations before signing. Retirement village and lifestyle community documents can be complex. They may...
What to Check Before Signing a Commercial Lease in Hervey Bay
What to Check Before Signing a Commercial Lease in Hervey Bay Signing a commercial lease is a major commitment for any business owner. Whether you are opening a retail store, professional office, café, medical practice, warehouse or service-based business in Hervey...
Estate Planning: Why It Matters More Than You Think.
Estate planning is something many people put off because it feels uncomfortable, complicated or only relevant later in life. But the truth is simple: estate planning is not just about what happens after you pass away. It is about protecting your assets, supporting...
Retirement Planning in Hervey Bay: Wills, Powers of Attorney and Health Decisions
Retirement Planning in Hervey Bay: Wills, Powers of Attorney and Health Decisions Retirement is often a time to simplify, plan ahead and make sure your affairs are in order. For many people in Hervey Bay and across the Fraser Coast, this includes more than...
Eli Waters Solicitors
3 Costly Mistakes New Business Owners Make After a Purchase
The 3 Biggest Mistakes People Make After Buying a Business So you’ve bought a business–congratulations! After months of research, negotiation, andlegals, the deal is finally done. But the work doesn’t stop there. The decisions you make inthe earlydays of ownership can...
Attention: Gen Xer
“If you’re a Gen Xer like me, chances are your parents are Baby Boomers — and many of them are now divorced, remarried, and part of blended families. But what happens to the will when there are step-siblings and second spouses in the mix?” So many families torn...
Have You Updated Your Will to Include Digital Assets?
In today’s world, our lives are increasingly lived online. From social media profiles and online banking to cloud storage and cryptocurrency, digital assets now form a significant part of our personal and financial footprint. But here’s the question: Have you updated...
Commercial Leasing for Landlords: Protect Your Investment
Commercial Leasing for LandlordsProtect your investment and maximise your returns with expert legal support. Challenges Landlords Face Owning a commercial property can be a valuable asset—but without the right legal protections in place, it can quickly become a...
Shopping Centre Leases – What to Look out For
Signing a lease for premises in a shopping centre is different to other kinds of commercial leases. Be very careful before stepping into treacherous terrain. Here are a few features that are found in shopping centre leases that do not exist anywhere else: Turnover...
Plan Today, Protect Tomorrow – Download Your Free Estate Planning Book Now
When it comes to looking after your family, there’s no greater peace of mind than knowing their future is secure — no matter what happens. That’s exactly what a solid estate plan can offer. Yet for many Australians, thinking about wills and estate planning feels...
Why Updating Your Will After Retirement is a Smart Move
Why Updating Your Will After Retirement Is a Smart Move Retirement is a major milestone – a time to slow down, reflect on your journey, and enjoy the rewards of your hard work. It's also the perfect time to revisit your estate planning, especially your will. Many...
How Parents Can Safely Lend Money to Children to Buy a House
Avoid losing your loan in divorce or bankruptcy: Legal tips from a commercial lawyer As house prices soar, many Australian parents are stepping in to help their adult children buy their first home. The “Bank of Mum and Dad” has become Australia’s 10th largest...
Thinking of Buying Real Estate? Here’s What You Need to Know
Thinking of Buying Real Estate? Here's What You Need to Know Investing in real estate can be rewarding, but it's essential to approach the process with caution and knowledge. Missteps in property purchases can lead to significant financial setbacks. Key...
Your Legacy Starts Here
Take a Look Inside the Will Creation Process – Only at Kalde Legal What Does It Take to Make a Will? Know what you own Decide who gets what Take action No stress. No drama. Just peace of mind. Most people wait too long. Don’t be one of them. It only takes minutes...
Unlocking the TruValue of Your Business
Unlocking the True Value of Your Business: Why a Professional Business Appraisal is Essential If you’re selling your business, one of the most important steps you can take is understanding its true value. If you’ve built a business over years of hard work and you’re...
Business Appraisal is Essential
Unlocking the True Value of Your Business: Why a Professional Business Appraisal is Essential If you’re selling your business, one of the most important steps you can take is understanding its true value. If you’ve built a business over years of hard work and you’re...
Loaning Money to Family Members: Why You Should Protect Yourself
Loaning Money to Family Members: Why You Should Protect Yourself It’s natural to want to help a loved one in a time of need. Whether it's a child trying to buy their first home, a sibling going through a rough patch, or older parents requiring financial support,...