I am interested in taking over a lease of a pub. The local area manager has given me the paperwork to sign and told me I can have the keys as soon as I have signed it. Is it as simple as that

Not really.  The entering into any kind of document of this nature creates a landlord and tenant relationship and in this case a commercial lease.  It is also very important to know what the main terms are of that lease.  With a lot of pub leases breweries tend to restrict what tenants can do in terms of the acquisition of drinks.  Tied pubs as they are called, have to buy drinks and sometimes other goods directly from suppliers that our preferred by the pub company.  There is no guarantee on prices and it can adversely affect profitability of the business being run.

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