Legal Question in Business Law in Tennessee

quitclaim deed and business owner

If a business owner signs a commercial lease and personal guaranty and signs a quitclaim deed on personal property. In the event the business goes under and the lease has not expired, does the business owner no longer have any personal assets/property?

Therefore, if the landlord sues the former business owner for past rent and default on the lease, can a lien be put against the former business owner?

Thank you


Asked on 12/02/06, 3:40 pm

1 Answer from Attorneys
James R. Becker, Jr. Becker Law Firm

Re: quitclaim deed and business owner

If I understand your question and factual recitation, the answer is yes. So long as there is a personal guaranty signed by the business owner, the owner is individually on the hook for any debt guaranteed.

Of course, it is impossible for any lawyer to give a complete or thorough answer without reviewing the documents in question. That is why you would be best served by gathering together the documents and scheduling a consultation with a lawyer.

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Answered on 12/04/06, 10:37 am


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