Commercial landlord
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Commercial landlord
I have a business in SC and have a house
in NC. I’m currently trying to get out
of the commercial lease, with no luck in
sublease. I’m thinking of filing
business bankruptcy but I signed a
personal guarantor. How do I protect my
property without filing personal
bankruptcy? Thanks
Asked on May 2, 2018 under Business Law, North Carolina
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
There is no way to get out of a lease unless:
1) the lease itself contains some clause or provision allowing you to terminate it early, and you fully comply with all terms of that clause or provision; or
2) You can show that the landlord committed fraud to get you to sign the lease--that is, the landlord mispresented (lied about) something material or important and you reasaonbly relied on that misrepresentation in deciding to sign--since fraud provides grounds to void, or undo, a lease or other contract; or
3) The landlord violates or breaches some material or important obligation of the landlord under the lease, since one party's material breach allows the other party to treat the lease or contract as terminated.
Otherwise, you are held to the plain terms of the lease and guaranty you signed.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.