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Loren
Loren, Lawyer
Category: Real Estate Law
Satisfied Customers: 29100
Experience:  30 years of real estate practice experience.
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We have a commertial lease under an LLC and can't make the

Customer Question

We have a commertial lease under an LLC and can't make the rent anymore. There is no personal guaranty on the lease. We have 6 more months until our lease expires. If I stop paying my rent can landlord come after personal assets?
Submitted: 5 months ago.
Category: Real Estate Law
Expert:  Loren replied 5 months ago.

Good evening. I am Loren, a licensed attorney, and I look forward to assisting you.

If the named tenant is an LLC, and you signed as the LLC (not personally), then the landlord can only look to the LLC assets for satisfaction of the lease.

Without a personal guaranty, the landlord has no recourse against you personally and your personal assets are shielded by the LLC.

Expert:  Loren replied 5 months ago.

Are you online with me?

Expert:  Loren replied 5 months ago.

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Customer: replied 5 months ago.
Can landlord take us to court?
If LLC has no assets then what happens?
Expert:  Loren replied 5 months ago.
The landlord can sue the LLC, but not you personallly. Only the tenant and guarantor, if any, is liable.
If the LLC has no assets then the landlord is just out of luck.
Expert:  Loren replied 5 months ago.
Did you have any further questions?

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