When purchasing a business, do you acquire the past business debt as well?

Question by Bon-bon: When purchasing a business, do you acquire the past business debt as well?

I am planning on purchasing a limousine business and I know that the business has debt. Will I be acquiring the debt as well or is this is something that the current owners will have to deal with before or after selling to me?




Best answer:

Answer by joseph.foust
Either they will have to pay it off, or you will inherit it!

Think about it, if you were in business already, and owed A LOT of money, and could make it just "vanish" by selling the business to someone else (your brother, maybe?). then wouldn't you do that every time a bill came in?

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