Legal Question in Landlord & Tenant Law in Colorado
Landlord Temamt Problem
I signed a lease with another person to rent a commercial condo. The other person has since skipped town and is nowhere to be found. There was no entity formed (corporation) to do business under. Essentially we are co-responsible for the rent. I have someone that would like to buy this space from the landlord. The landlord feels that they will be responsible and in legal hot water if they break the lease and if the other person shows up and wants to do business in this space. What are my options? The lease says specifically what type of business we would be operating in there. Since it is unlikely that this other person will show up, why can't they remove his name from the lease? Can I just pay them my half and request that they locate the other guy for the other half?
1 Answer from Attorneys
Re: Landlord Tenant Problem
They can't be removed because normally all parties must sign an amendment.
There may be a possibility to consider the co-tenant's action as an anticipatory breach of the lease to, through various steps, mutually terminate the lease and then the remaining tenant is liable for the entire amount.
No you cannot just pay half and tell them to locate the other party. You are both on the lease and jointly and severally liable for the total amount. It is your obligation to figure how to find the co-tenant not the landlord's. They can just call a breach of the lease and evict you from the premises.
You really need to talk to a real estate attorney on this matter. Good luck.
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