Legal Question in Business Law in New York

Under normal circumstances, generally no. HOWEVER, because many landlords fear that the business could just fold, they insert clauses and terms that assign liability to officers / shareholders of small companies. You should have an attorney admitted in New York review the lease agreement to make sure that you will have no personal liability.

I would be happy to chat with you further. Feel free to contact my office at your earliest convenience.

Roman R. Fichman, Esq.

www.TheLegalist.com │ @TheLegalist

email: Info (at) TheLegalist (dot) com

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Disclaimer: This posting has been written for educational purposes only and was not meant to be legal advice and should not be construed as legal advice. You should always consult an attorney admitted to practice in your jurisdiction for specific advice.

As a Franchise Attorney I agree with the other attorney answer and only add the following. Another way for the landlord to pursue you personally is if your corporation did not observe all corporate formalities or was under-capitalized. This line of attack is called piercing the corporate veil. Consult with a good business or franchise attorney in your area for specific advice.

Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.

Franchise Foundations, a Professional Corporation

The best way to avoid this happening is by NOT signing a lease which contains a personal guaranty, but this is often unavoidable. Have a lawyer review any lease before you sign. I do quite a lot of these, so feel free to call me. 212-913-9907.