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MShore Law
MShore Law, Attorney
Category: Business Law
Satisfied Customers: 25285
Experience:  Drafted Negotiated and/or Reviewed Thousands of Commercial Agreements
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We lease commercial restaurant space to two business owners.

Customer Question

We lease commercial restaurant space to two business owners. The wife of one owner assaulted the other owner, demanded her keys and business bank card, and forced her off the premises----right before a huge dinner, as guests were just walking in. The attacked owner left; has filed a police report, and for an order of protection against the wife, who has since taken over her position at the restaurant. The other owner won't let her in to work. Our board of directors held a meeting with the two owners on our lease and a mediator to talk about concerns we had about default on the lease: pattern of late rent payments, disturbances and altercations causing annoyance and discomfort to other tenants in the building, potential illegal activities. We also asked the two owners who signed our lease if they plan to work with each other until their current lease expires. They both adamantly said no. However, each is interested in starting a new venture there without the other. Can this be done without the current lease being terminated? We asked them to sign a letter to us requesting that the lease be terminated, just like they have done to the bank accounts and other business accounts that they are dismantling. The attacked owner signed; the other owner didn't. We need to have the lease terminated right away. We gave them a letter of termination of notice which they both signed for, but apparantly it was not a legal document. In the meantime we have a restaurant with 18 booked parties and weddings through December, and no way to service them with the situation as it stands. What is the quickest legal way to break this lease?
Submitted: 5 years ago.
Category: Business Law
Expert:  MShore Law replied 5 years ago.
Thank you for the post, the current lease must can be amended to reflect a new agreement with each current co-lessee being a separate lessee. Bear in mind that this is an effective termination of the current lease, even if stated as a modification, there is no way around the termination of the current lease to give rise to the contemplated arrangement. The faster way to terminate the current lease is to have each party execute an amendment with the now desired lease terms.