Sunday, August 22, 2010

Can I get out of a office rental lease now that I am out of business(LLC)?

I closed my doors a few months ago of my LLC business. I want to know if I can get out of my lease without having to pay because I was a LLC and am no longer in business. I did not file for bankruptcy. Am I protected some how by my LLC entity?Can I get out of a office rental lease now that I am out of business(LLC)?
Look carefully at how your lease was drawn up..was it Leased to the LLC and when you signed it did you sign it as your LLC title...Hopefully you didn't co-mingle your personal credit to back your lease or you may be on the hook...I think this is worth a consult with a lawyer skilled in business law ----you may have to bankrupt the LLC to get out of any unpaid obligations including the lease.Can I get out of a office rental lease now that I am out of business(LLC)?
We are going through something like you but two partners split there business up. We are going though lawyers. We ask the lawyer is we could pay a set price like 3 months worth of rent and he would put the office back up for rent. We did a lot of work on the office while we were there so it mit lease faster. Maybe you should talk to the landlord about something like that. Good luck.....
If you are out or business and nor longer using the LLC then you should bankrupt this LLC. Bankrupting the LLC normally relieves you of personal liability from any debts incurred by the LLC. The land lord can come after the LLC in a court of law for an perceived rent that is owed the landlord or leasing company.





You might be protected by the LLC from any liabilities, but failure of you to pay the rent or other liabilities that is contracted to the LLC might be a problem and could be a problem in the future.





I hope this been of some benefit to you, good luck.





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