Legal Question in Business Law in Florida
Guarenteed lease
My patrner and myself bought a deli 1 year ago from the original leasee. We are tanking and trying to give the place away but no takers as the rent is high.What can we lose by walking away. We spoke with the land lord for some rent reduction to no avail. Are we the only guarenteeors or is the past owner still responsible as well. We are dying here losing @ $4000 a month
Thanks
Richard
2 Answers from Attorneys
Re: Guarenteed lease
It depends on whether there was an assignment of the lease or something else. I would have to read your purchase documents to give a proper answer.
Re: Guarenteed lease
The answer is in the lease agreements... your sublease agreement and the original lease agreement. If you have questions after you review the lease agreements, then you should contact a business law attorney.
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