Legal Question in Real Estate Law in New Jersey

Re: liability on persally guaranteeing a lease

you would be very smart to spend a couple hundred dollars on a lawyer, since you are spending THOUSANDS on rent.

Re: liability on persally guaranteeing a lease

There are few things in commercial contracts that are "standard". Personal guarantees are not unusual. However, even when the other party insists on some kind of personal guarantee, the terms can usually be negotiated to reduce personal risk.

You should think carefully about having a lawyer review your lease. The personal guarantee may not be the only issue that should concern you. Considering the total value of the contract, a bit of legal prevention seems in order.

My firm handles matters of this type. If I can be of further help to you, call or email.

See also: http://info.corbettlaw.net/lawguru.htm

Re: liability on persally guaranteeing a lease

Personal guarantees are becoming more common in commercial leases especially as to the "rent" portion of the lease.

As Mr. Corbett said there are many other issues that are as important in commercial leases and you should really have an attorney look over the lease before executing it.

Regards,

David Heron