How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Richard Your Own Question
Richard
Richard, Attorney
Category: Business Law
Satisfied Customers: 54554
Experience:  32 years of experience practicing law and a businessman.
17027240
Type Your Business Law Question Here...
Richard is online now
A new question is answered every 9 seconds

I recently closed my business and am being sued by my landlord

This answer was rated:

I recently closed my business and am being sued by my landlord for back rent. The business is registered as an LLC. Can I be sued personally for this?
Welcome! My goal is to do my very best to understand your situation and to provide a full and complete answer for you.

Good morning. Did you personally guarantee the lease? Thanks.
Customer: replied 3 years ago.

I signed the lease in the name of the business.

Thanks so much for your response. In that case, the landlord cannot pursue you personally. If the lease is only in the name of the LLC, the landlord can only pursue the LLC and it's assets. The landlord has no recourse against you personally and your assets are not at risk for the liabilities and debts of the LLC. That's the reason you operate within the confines of a limited liability entity such as an LLC...to avoid risking your personal assets being at risk for the LLC's debts and liabilities.



Thank you so much for allowing me to help you with your questions. I have done my best to provide information which will be helpful to you. If I have not fully addressed your questions or if you have any follow up questions, or if I have misinterpreted your questions in any way, please do not rate me yet, but simply ask a follow up question without rating so I can provide you with a fully satisfactory answer. If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service with 3, 4, or 5 faces/stars so I can receive credit for helping you today. I thank you in advance for taking the time to provide me a positive rating!
Richard and other Business Law Specialists are ready to help you
Thank you so much for the positive rating! I appreciate having had the opportunity to serve you! If I can be of assistance to you in the future, just look me up and I will be happy to help!

Related Business Law Questions