Employment Aspects of Property-related Transactions
There are a variety of employment issues which can arise in a propertyrelated transaction. If the property forms part of a going concern, then the buyer of the business will need to be prepared for the transfer of any employees employed or engaged by the seller in the business which is being bought. If the transaction concerns a change in contractor on a long-term building development project, then the incoming contractor may also become the employer of the employees previously engaged by the outgoing contractor on the project. Where a property owner or developer engages a managing agent to arrange maintenance services at a property or portfolio of properties, then the replacement of that managing agent may also result in the transfer of the staff engaged in those maintenance services.