Legal Question in Real Estate Law in Texas
Terminiting a lease
We have a 6 year (renewable) lease in a shopping center where we operate 1 of the 6 family restaurants. This location is not profitable for us, our overheard is too much, and am trying to play catch up of past due bills. There is a major plumbing problem in our underground drain lines that is going to cost the landlord approx. $40,000 to repair, plus close us down for approx. 2 weeks. We can not afford that.
Is there any way to get out of a lease, without having to spend $10,000 to do so? My desire would be to get out of the current lease in the center, and move our business to a smaller location with better exposure and less overhead. Slighest glimmer of hope for us?
1 Answer from Attorneys
Re: Terminiting a lease
Everything regarding the lease will be in the lease document you signed. You should start there. However, sometimes the parties can come to an agreement that alters the lease if it is both parties interests. If you can work out an agreement with the landlord, make sure it is done in writing.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
