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Richard, Attorney
Category: Business Law
Satisfied Customers: 53705
Experience:  32 years of experience practicing law and a businessman.
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I am ready to sign the lease for a business venture and the

Customer Question

I am ready to sign the lease for a business venture and the landlord requires 1,000,000 dollar policy that is two times the premium for the state requirements. If I use the lower insurance coverage... They want me to sign the lease in my name as a person and not as my business to put the liability on me. What should i do?
Submitted: 6 years ago.
Category: Business Law
Expert:  Richard replied 6 years ago.

Good morning. I would highly recommend that you pay for the larger policy and avoid signing the lease in your own name. You really never want to take on personal liability for all the obligations under the lease and a larger insurance policy is a small price to pay for being allowed to have only your business on the lease so that your personal assets are protected.



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