If we sold a business and subleased to the new owners who have now defaulted on the lease, can we sue them for this money?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If we sold a business and subleased to the new owners who have now defaulted on the lease, can we sue them for this money?
Their wealthy parents signed as guarantors on the lease. The new owners are now behind on rent and the landlords are threatening to evict the new owners and come after us for rent owed for the entire remaining period of the lease.
Asked on October 8, 2012 under Real Estate Law, California
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
If you get sued for the default on the lease by the buyers of the business that you sold by the landlord you can then cross complain against the buyers and their wealthy parents based upon the personal guarantee they signed as to the lease that you have written about. You might consider consulting with a business attorney about your matter for assistance.
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.