Legal Question in Landlord & Tenant Law in Florida
Is shareholder liable for remainder of lease
Sold franchise business in 2008. Landlord well aware ahead of time that Franchise was being sold. Landlord and new owner/tenant did not get lease transferred to new tenant/owner (landlord kept cancelling appts). 4.5 months later I learned that the tenant moved from the location. The landlord wants me to pay for the remainder of the lease since it was the original lease signed by me. The lease is specifically stated that the leasee is the S-corp name d/b/a. I signed lease as president but there is nothing in the lease that I would personally quarantee payment if corp is not able too. There is no business being conducted with the S corp and absolutely no assets (everything was sold with the business - which sold at a large loss) Can landlord sue me personally?
2 Answers from Attorneys
Re: Is shareholder liable for remainder of lease
If you signed just as the President and not individually then only the corporation is liable. If he sues you, though, don't ignore it. You have a valid defense, but it must be raised to avoid liability.
Re: Is shareholder liable for remainder of lease
He can but you have a valid defense.
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