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Daniel, Solicitor
Category: Australia Law
Satisfied Customers: 4869
Experience:  Bachelor of Laws (dist) Graduate Diploma in Legal Practise. Admitted NSW Supreme Court / High Court
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I sold my share of my business in 2013, after doing so I asked

Customer Question

I sold my share of my business in 2013, after doing so I asked the landlord to have my name removed as gaurantor and the new owner would replace the guarantor she refused on the lease. Now the current owner stopped paying rent and the landlord is Persuing me
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Submitted: 6 months ago.
Category: Australia Law
Expert:  Daniel replied 6 months ago.
HelloHow did you notify the landlord?Was there an agreement to have you removed from the guarantor title?
Customer: replied 6 months ago.
Via telephone and email. I have email correspondence between us with her refusing to remove me as the guarantor and replacing me with the new owners guarantor. How can I sell my business and not be allowed to remove my name off the lease and replace me with someone else?
Customer: replied 6 months ago.
The agreement was between myself and the new owners and then I tried to come to an agreement but the landlord refused
Expert:  Daniel replied 6 months ago.
HelloWell you are still named as guarantor. Sadly you are still liable then, as they refused to remove you from that obligation. Issue is, you are in business, a court would have significant issue with you walking away from something and not undertaking due diligence in having your name removed from the guarantor obligations. You would not be considered as an 'average person' but a business orientated person. Sadly you are liable
Expert:  Daniel replied 6 months ago.
Makes little difference with respect of the business owners, the contract is with the landlord. You need to make an arrangement with them. If you get sued, you can cross claim against the new business owners, but it is a cross claim, not a defence.

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