QLD Possible to Lease Out My Business under Commercial Law?

[spydoo]

Hi

I own a small but solid tree services business in Brisbane. I wish to go abroad and lease it to my nephew at a discounted rate. I would also be doing some work for the business from abroad.

Because it's discounted, I believe there's some latitude in possible structuring: "loan" him the business while he pays me for my work / lease him the woodchipper while loaning him everything else, etc.

How would I go about this:
1. Is it doable under commercial law?
2. Can I include vehicles in the lease and not be responsible for the worst-case possibilities?
3. If both 1 and 2 can be done, how much should I expect to pay for a solicitor to draw up the lease?

Thanks very much for any input members can offer.

 

[Rod]

1. Yes
2. Maybe. You'd need a good lawyer to do it properly.
3. Dunno, not a lawyer and never done a contract like this. Experience tells me not to expect change from $2k, probably cost more.

Might be easier to 'employ' him rather than setup a leasing contract.

BTW, you also need to consider insurance issues in case anything happens to your property, other people's property and public liability.