Judgement lien on real property

Hi JBond3007,

Welcome to the Community.

If you are going under, you should try to file chapter 11 so at least you can try to reorganize.

I don't know about the lease though, maybe someone with real estate knowledge can respond.

And I'm not sure how your Subject line meshes with the text of your message.

chrys

In my city, if a tenant terminates a lease early, the landlord can only charge rent for the duration that the premises was actually unocuppied - not for the entire remainder of the lease. For example, if I had 8 months left on my lease but moved out today, and it took my landlord 2 months to find another tenant, then he could charge me those 2 months of rent. But once he re-lets the apartment, he's really not "injured" by my breech of contract anymore since someone else is paying rent, so he couldn't sue me for the whole 8 months.

Now that is a city ordinance I just referenced, and further applies to "housing," not business. I'm not sure how it applies in a commercial situation.

As far as the landlord coming after you, it depends A) whether your business is organized as Corp or LLC, or is it a sole-proprietorship? B) Did you sign a personal guarantee, or just on behalf of the company?

If your business was a Corp/LLC and you did not sign a personal guarantee, then there's not much he can do when the company goes under -- there will be no assets left for him to take.

However if you were a sole-proprietor or if you signed personally, then even if the company closes, he can file suit against you personally.