Legal Question in Business Law in Maryland
I own a Sole Proprietorship, and have to sign retail space lease now with my current EIN , and planing to convert my Sole Proprietorship to LLC in January next year, can i include a condition in my lease to apply my new LLC to the lease once the LLC formed , which will have also new EIN as LLC
Asked on 10/11/23, 6:04 am
1 Answer from Attorneys
Frank Natoli
Natoli-Legal, LLC
The landlord is going to require you to guarantee the lease in any respect. In some cases, you may be able to work out something called a "good guy clause" where over time the LLC becomes liable for the lease. But of course I'm speaking generally. You are free to negotiate anything you want if you can. If the LL will allow the LLC to take full responsibility then great, that's what you should do.
Answered on 10/11/23, 6:11 am
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