It's not quite that simple. It would totally depend on how the sale is structured.
**A: it would depend upon the language in the P/S or Buy Sell Agreement and various other factors including but not limited to the language in the specific equipment lease document.
**A: not only that but be subject to the default provisions and damages.
If I buy the company's assets and not "Ownership" then I am most certainly not required to continue the lease. Seeing as how most business purchases are asset deals and not stock deals....
True, but once again they would not be able to keep the equipment in question.
Seeing as how the previous business didn't own them either, that was likely taken into consideration.