Legal Question in Landlord & Tenant Law in Utah
Hello, the recession may force us to close our family business, but we have three years left on the lease. We might survive if we could move to another location for less rent. We are considering moving our inventory out at the end of the month then notifying the landlord. Our credit is perfect and we know bankruptcy will destroy our good name. What would you suggest?
Asked on 5/15/10, 12:35 pm
1 Answer from Attorneys
Alvin Lundgren
Alvin R. Lundgren, L.C.
It is impossible to analyze and make a recommendation based on the little information your provided. If you intend on leaving you should contact the owner of the building as soon as possible and see if you can come to an agreement on the terms. Otherwise you may still owe the remainder of your lease.
Answered on 5/20/10, 1:48 pm
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