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In Ohio - I have a lease with a guarantor. With the lease in…

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In Ohio - I have...
In Ohio - I have a lease with a guarantor. With the lease in the name of my LLC as the tennant, is the guarantor able to do anything without my permission that would affect my business?
Submitted: 3 years ago.Category: Business Law
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6/30/2015
Business Lawyer: Richard - Bizlaw, Attorney replied 3 years ago
Richard - Bizlaw
Category: Business Law
Satisfied Customers: 10,841
Experience: 30 years of corporate, litigation and international law
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Hello, my name is***** will try to help you. Please remember I just report or interpret the law, so the outcome may not be what you hoped for. The answer to your question is within the terms of the guarantee. If there is no default on the lease, there would be no action for the guarantor to take. If there is a default on the lease, what powers the guarantor has will be governed by the guaranty. In most instances, other than paying to cure a financial default, the guarantor has no power over the lease. The only effect on your business relates to the lease not your business. You could be evicted and tht would have an effect on your business but that should be it. If I have answered all your questions, please positively rate my answer as that is how I receive credit. If you have more questions, please let me know. If my answer was particularly helpful you can pay a bonus.
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