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 Roger Your Own Question
Roger, Attorney
Category: Business Law
Satisfied Customers: 31782
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
Type Your Business Law Question Here...
Roger is online now
A new question is answered every 9 seconds

IF I open a small business and incorporate can the lease

Customer Question

IF I open a small business and incorporate can the lease holder come after my personal assists for the monthly lease if the business fails?
Submitted: 1 year ago.
Category: Business Law
Expert:  Roger replied 1 year ago.

Hi - my name is ***** ***** I'll be glad to assist.

In the event that you sign the lease as the corporation/LLC only and NOT INDIVIDUALLY, then you would not be personally liable for the debt in the event that the business fails. Therefore, your personal assets/property would not be exposed to liability.

However, if you are required to sign a personal guaranty, then you would be liable for the obligation.