I have a lease, I let my Uncle use the building for his restaurant, 3 months ago he sold 49% of the stock to t

Question

I have a lease, I let my Uncle use the building for his restaurant, 3 months ago he sold 49% of the stock to two people, each around 24%, one is currently the manager. Since then the business and the property have went down. I have two questions

1.) Can my uncle fire the manager, because of his poor perfomance?

2.) Can I evict these people out of my building which I am holding the lease for to open my own business?

Answer 1

1.) Yes

2.) Read your lease agreement, see what it says you can do, you agreed to it and should know.

Answer 2

Your uncle can fire anyone he wants if the employee is employed as an 'at will" employee. I fhe has a contract in place.that is a whole other story

I am not sure if the stock issue has any relevance. Is it actual stock or does the manager jsut own 24.5% of the business?

Are you saying that you are the landlord and these people are the tenants? If that is the case then you need to have an attorney review the lease to see if an eviction is feasible. If they do not have a lease in place and are paying month to month then I would think you can ask them to leave with proper notice.

Answer 3

1. The manager could be fired for poor performance because the employer has the control over employees including termination.

2.You can evict all of them but must reimburse them for any benefit or property that they introduced to the building because they were in good faith due to the allowance you gave to your uncle.