What happens if I have leases on more than one location and only one landlord objects?
Each lease is a separate contract with its own landlord and its own assignment terms, so one landlord's objection doesn't automatically affect the others — but it can still put your overall deal at risk, depending on how your purchase agreement treats the leases as closing conditions. If the buyer's willingness to close depends on getting all locations assigned, one holdout landlord can become a bottleneck for the entire sale, even though the other locations are unaffected as a legal matter.
How much this actually threatens the deal usually comes down to how the purchase agreement is drafted — whether landlord consent for each location is treated as a separate condition, whether the buyer can choose to close on the locations that are approved and carve out the problem location, or whether all consents are bundled together as an all-or-nothing condition.
Because a single difficult landlord can otherwise hold an entire multi-location sale hostage, it's worth structuring the purchase agreement to separate the locations from the outset. A Treadstone business lawyer can build in flexibility so one holdout doesn't sink the whole deal.
Key takeaways
- Each leased location is a separate contract, so one landlord's objection doesn't legally bind the others.
- Whether it threatens the whole sale depends on how consent conditions are structured in the agreement.
- Bundling all locations into one all-or-nothing condition gives a single holdout landlord real leverage.
- Structure the purchase agreement to allow closing on approved locations separately where possible.