Home Q&A Forum Can a liquor license be transferred to a new owner when purchasing an existing business?

Business

Liquor License

New York

Asked on Dec 7, 2024

Can a liquor license be transferred to a new owner when purchasing an existing business?

I am considering purchasing an existing restaurant that currently holds a liquor license, but I am unsure if the liquor license can be transferred to me as the new owner. I have done some research and found conflicting information, with some sources stating that liquor licenses are non-transferable and others suggesting that the transfer is possible under certain conditions. I would like to understand the legal requirements and process for transferring a liquor license to a new owner in order to make an informed decision about purchasing the business.

Answers from 1 Lawyer

Answer

Business

New York

Answered 542 days ago

Damien B.

ContractsCounsel verified

Business Lawyer
Licensed in New York
4.9 (13)
Member Since:
October 3, 2023

Hello. This is Damien Bosoc, Esq. I have a law office in Long Island City across from Manhattan. In New York, liquor licenses are non-transferable, meaning they are issued specifically to the current owner and premises and cannot be directly transferred to a new owner. However, there is a process that allows prospective buyers to obtain a new liquor license for the business they are purchasing. While liquor licenses in New York are not directly transferable, there is an established process for new owners to obtain a license when purchasing an existing licensed business. Following the NYSLA's requirements carefully is crucial to ensure a smooth transition and uninterrupted business operations. Feel free to reach out if you would like a consultation.

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