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 Dimitry Esquire Your Own Question
Dimitry Esquire
Dimitry Esquire, Attorney
Category: Real Estate Law
Satisfied Customers: 41220
Experience:  JA Mentor, multiple jurisdictions, specialize in business/contract disputes, estate creation & admin
18572087
Type Your Real Estate Law Question Here...
Dimitry Esquire is online now
A new question is answered every 9 seconds

I have sold my business. The new owner signed a new 10 year

Customer Question

Hello,
I have sold my business. The new owner signed a new 10 year lease in my commercial building. I had 6 months left.
My landlord is trying to charge an amount against my security deposit for his legal fees and processing the new lease to the new owner of $1500.
I have two questions.
1. Can he do that?
2. In Illinois should ther be interest?
Thanks
Joe
Submitted: 1 year ago.
Category: Real Estate Law
Customer: replied 1 year ago.
The property is in Cook County, Illinois.
Expert:  Dimitry Esquire replied 1 year ago.

Thank you for your question. Please permit me to assist you with your concerns.

If I may ask, did your lease have a 'no assignment' clause?

Customer: replied 1 year ago.
I believe it could be assigned upon approval of the landlord. Which could not be reasonably denied.
Expert:  Dimitry Esquire replied 1 year ago.

Hi,

In that case the costs, UNLESS listed in the lease, are not something that the landlord can pursue. The costs for an assignment and a new lease can be added solely if the agreement stated that the parties agree to such expenses, or where the landlord can show injury and show that the costs are unreasonable. Therefore you can challenge his actions and argue that he cannot charge you for the new lease, as you can simply keep that person as a sub-tenant for the 6 months remaining. As far as interest, if this is a commercial lease, I do nto see any law that requires interest to be paid.

Sincerely,

Dimitry, Esq.

Related Real Estate Law Questions