New York Commercial Law - Can I opt out? - commercial lease early termination clause
Hello guys. I have a question from a very difficult life situations.
I have a business and entered into the lease in 1993, and yet day until today. The rent was too expensive to pay because the company itself does not go well. I asked the owner if they can reduce a portion of the rent, and I do not think that the ground is enough to pay for me. I wonder if I have influence in negotiating a lower rent have.
I have a link to a copy of the contract I have removed their names. He has an early termination clause, but have no experience in the Treaties and Laws to see what my situation if they decide to opt for the rent and close the store. The lease runs in its present form in 2017,and there is no way that I can continue this activity until that time, with income.
One question I would like to clarify the original contract was to my name as a party to the lease, not the business that is configured as a corporation. I think he has a personal responsibility, even if the bank operates as a business. I hope, however, confirmation, get on this and we hope to have some impact, to reduce the rent.
Thank you for your help.
20Lease.pdf% http://www.moogii.com/upload/Store
Friday, February 19, 2010
Commercial Lease Early Termination Clause New York Commercial Law - Can I Opt Out?
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2 comments:
You are responsible for your lease. Not your business, you're right. If you default on the lease, the landlord must continue for the rest.
Its influence is only the costs that are trying to sue you to be, especially if you go personally bankrupt.
They have tons of lever ..... They want the rent reduced .. 30% Tell you the opportunity to renegotiate the rent of $ 1000. oo 700.oo. $ .... Balls in your court ... vi, I can not hire me for $ 1000.oo, or you can say $ 700.oo is better than none, and he agrees ..... Car is very good ... promises in this economy that better pay for 2 years on the lease and the business .. else if you can not rent the request .. I bet 70 miles equity in your home .... better reflect the bankruptcy
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