Assigning Option to Purchase to "Related Entity"

Real Estate Investing
1

What is the definition of a “Related Entity” with regards to a Commercial Real Estate purchase?

I need an answer ASAP please, as I am a Seller holding up closing escrow for possible breach of contract in this situation…

Thanks!

2

According to google:

A related entity would typically mean a business partner, horizontally related corporation, parent corporation, and/or a wholly/partially owned subsidiary.

3

Thank you… I googled definition, but didn’t get that answer.

So, an LLC, set up specifically to finance the deal, with the original purchaser(a small business owner) only a small fractional owner, would NOT constitute a “related party”?