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I had a 50/50 partnership LLC in Georgia and we have now…

I had a 50/50...

I had a 50/50 partnership LLC in Georgia and we have now sold the property. My partner rented the building from the LLC. When I received the last bank statement I noticed that he had failed to pay the June 2017 through July 10 rent. His rental agreement ended May 31 and he says he does not owe rent even if he stayed. True??

Lawyer's Assistant: Can you tell me what state the LLC is registered in?

Georgia

Lawyer's Assistant: Has anything been officially filed? If so, what?

Only the papers that related to selling the property. We have started advertisement in the paper of the pending dissolution . All of the money in the checking account has been split

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Answered in 13 minutes by:
7/18/2017
RGMacEsq
RGMacEsq, Attorney
Category: Business Law
Satisfied Customers: 17,694
Experience: Licensed Texas General Practice Attorney
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Thank you for using JustAnswer.

I'm sorry to hear about your situation. False. This is a "holdover tenant" situation. In such a situation, the tenant rents the property on the same terms as the written lease, except that the lease continues on a "month to month" situation. A tenant doesn't get the property rent free if they stay over the time period. They still have a legal obligation to pay the rent, but on a month to month basis, which can be terminated with a month's written notice.

So you can demand that he pay the LLC the rent for that time period (June and the 10 days for July), and then the distribution from the LLC to both of you. Now of course if he doesn't then you'd have to take him to court on behalf of the LLC, but at least you know where you stand legally.

Hope that clears things up a bit. If you have any other questions, please let me know. If not, and you have not yet, please rate my answer AND press the "submit" button, if applicable.

Please note that I don't get any credit for the time and effort that I spent on this answer unless and until you rate it positively (3 or more stars). Look for the stars on your screen (★★★★★). You may need to scroll left/right/up/down to see these stars, but note that the rating is what closes out this question, so it is necessary that you do so.

Thank you, ***** ***** luck to you!

RGMacEsq
RGMacEsq, Attorney
Category: Business Law
Satisfied Customers: 17,694
Experience: Licensed Texas General Practice Attorney
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Satisfied Customers: 17,694
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