Legal Question in Business Law in California
Defaulting on a commercial lease
I am a sole-owner of 2 retail locations..One of the locations was doing ok and has been financialy supporting the 2nd location. It is to the point where I will default on a 5 year lease with only 18months into it. This has affected my other location to the point where there is no money for purchasing..When I default on my lease what is the worst that can happen to me and my other location?
Asked on 7/14/08, 5:21 pm
1 Answer from Attorneys
Terry A. Nelson
Nelson & Lawless
Re: Defaulting on a commercial lease
Generally, the landlord can sue for the entire remaining lease payments, subject to re-leasing and crediting you with any payments received.
Answered on 7/14/08, 6:36 pm
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