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This is in Texas. I personally gruaranteed on a commercial

lease for my son. He...
This is in Texas. I personally gruaranteed on a commercial lease for my son. He did not pay, I did not know this. The landlords have sent me a letter of default. I emailed them, they replied they wish they has contacted ME sooner. I had no notice before the default letter. In Texas what can they legally get if we do not work out a solution? I have three LLC, a home and a 2006 van.
No stocks, bonds or savings.
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Answered in 2 minutes by:
2/1/2013
Dave Kennett
Dave Kennett, Attorney
Category: Business Law
Satisfied Customers: 27,689
Experience: 25 years practicing law
Verified
-Could you explain your situation a little more?
Is your son still occupying the premises?
Have the premises been re let to another tenant?
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Customer reply replied 4 years ago


I answered question have not received a reply

I have never received your response to the info request.
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Customer reply replied 4 years ago


I answered, he is in the building now. Business is open. Default letter states they will lock out Feb. 7th.

I am going to opt out and allow the other experts to review your question.
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Barrister
Barrister, Attorney
Category: Business Law
Satisfied Customers: 38,660
Experience: 17 years practicing attorney, JD, BA, MBA
Verified
Hello and thank you for using JA! My goal is to provide you with excellent service and help with your legal problem.
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New expert here...
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I apologize for the communication problems you may have been having with JA. It can be a little "buggy" at times.
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If you are the co-signer or guarantor of the commercial lease, then they can try to come after either of you or both of you for payment on the lease contract for any damages they have incurred due to the breach. If the lease contains a lock out clause, then they could legally come to the property and literally change the locks on the doors and prevent son from entering the premises.
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They would then have to file a formal eviction action against both you and son in order to legally regain possession of the property. After they do, they can file suit against you both for any delinquent rent and for any future rent until the re-rent the premises to a new tenant if son is under a written lease for a set term.
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With that said, Texas is a very debtor friendly state. TX does not allow for garnishment of a person's wages and most personal property is exempt from garnishment. There is a $60,000 exemption for a husband and wife for personal property, $30K for a single person. If the LLC's have more than one member, then they could try to garnish any distributions from the LLC's to you as a member, but they couldn't go after the assets of the LLC's. This is called a "charging order" and is essentially a garnishment. But if you took no distributions from the LLC's, then there is nothing they could get.
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Further TX has an unlimited homestead exemption, so they couldn't take your home.
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So based on you not having any other assets, you essentially may be "judgment proof" meaning that they could sue you and get a judgment, but there is nothing they can collect against.
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Thanks.

Barrister

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Please don't forget to rate my service "OK" or higher. It is only then that I receive credit for my work.

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If you need further help, just reply to me via the “REPLY” button and I will be happy to continue.

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I cannot enter into an attorney client relationship, this is a public forum, and all posts are available for public viewing. There is no duty of confidentiality that attaches to any posts. The information provided is not a substitute for a local attorney’s legal advice.

Barrister
Barrister, Attorney
Category: Business Law
Satisfied Customers: 38,660
Experience: 17 years practicing attorney, JD, BA, MBA
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