Are there separate representations if the sale includes the business's real estate as well?

Yes, and this is a common and sensible feature of a purchase agreement where the deal includes real property along with the operating business. General commercial representations about contracts, employees, and compliance do not typically address the specific risks that come with owning land, so agreements involving real estate usually add a dedicated set of property representations covering matters such as good and marketable title, zoning and permitted-use compliance, the condition of the property, environmental matters, and the status of any leases affecting it.

These property-specific representations matter because land carries its own distinct legal and financial exposure, including potential environmental liability that can attach to a current owner regardless of who actually caused any contamination, and because Ontario land transfer tax applies separately to the portion of the price attributed to the real property, apart from how the rest of the transaction is taxed. A buyer purchasing a business that includes real estate should confirm the purchase agreement addresses these property-specific issues directly, rather than assuming the general business representations adequately cover land-related risk.