1. Gator Country Black Friday special!

    Stay on top of the football coach search with the Insider Authority on Gator Sports with a special discount!

    Now's a great time to join or renew and get up to $20 off your annual subscription! LIMITED QUANTITIES -- for details click here.

I am looking for an attorney who deals with

Discussion in 'Too Hot for Swamp Gas' started by g8orbill, Aug 18, 2013.

  1. g8orbill
    Offline

    g8orbill Gators VIP Member

    Joined:
    Apr 3, 2007
    Messages:
    72,374
    Likes Received:
    4,949
    Trophy Points:
    113
    Location:
    Clermont, Fl
    Ratings Received:
    +10,519
    commercial real estate leases- I am selling my restaurant and the landlord does not want to transfer the lease unless I sign a personal guarantee on the rest of the lease-why would I or should I be required to guarantee a lease on a business that I will not own
  2. gatordowneast
    Offline

    gatordowneast Well-Known Member

    Joined:
    Apr 3, 2007
    Messages:
    11,730
    Likes Received:
    302
    Trophy Points:
    83
    Ratings Received:
    +984
    Not an attorney Bill but know a friend that made the mistake of doing that and he regretted it. The guy screws up your restaurant and wants to bail and guess who is still on the hook?

    As a last resort, you may negotiate a "buy out" of your signature. Several months rent perhaps. We added about 2000 square feet of office as we needed extra room to support an IBM project...this was prior to 9-11. 9-11 hit and IBMs' project was put on hold, they didn't need us and we were on the hook for $75 K over 3 years for space we did not need. We bought our way out for $15 K. Landlord thought he would double dip and re-lease the space...took him 3 years and he finally leased to "Shaky Rodriguez" and a shyster mortgage firm that lasted maybe 9 months. Sure glad we decided not to try and sublease that space. LOL
  3. MichiGator2002
    Offline

    MichiGator2002 VIP Member

    Joined:
    Apr 3, 2007
    Messages:
    16,581
    Likes Received:
    611
    Trophy Points:
    113
    Ratings Received:
    +2,919
    You want out of the high quality sandwich game, Bill?
  4. GatorRade
    Offline

    GatorRade Well-Known Member

    Joined:
    Apr 3, 2007
    Messages:
    7,111
    Likes Received:
    276
    Trophy Points:
    83
    Ratings Received:
    +960
    You are in Lakeland, right bill? A buddy of mine from UF practices that type of law here in Tampa. He's at a well regarded firm, Trenem Kemker, and is himself well regarded there. He's an all around bright guy, and I would put my full trust in him.

    http://www.trenam.com/profiles_listall.asp?profileID=113
  5. Gatorrick22
    Offline

    Gatorrick22 Well-Known Member

    Joined:
    Apr 3, 2007
    Messages:
    33,866
    Likes Received:
    2,640
    Trophy Points:
    113
    Ratings Received:
    +5,126
    My g/f works in commercial real estate... she reads contracts and leases all the time. If you can assign the lease with a clause saying that assignor has no ongoing responsibility, that's the best way to handle it. You could also try to negotiate a small termination fee, like gatordowneast discusses above. If your rent is below market, the landlord would be better off getting someone new in there just to make market rent.

    Bill, do not sign that contract.

Share This Page