Q: Hi, what happen if I break the commercial lease due to slow business due corona ?
can landlord go after me( my personnel asset ex: bank account .... ) if I break the lease again due to the slow business cause of corona
A: Yes you could be held liable, but you would need to be name in the lease as the lessee or a guarantor to the lease.
A: To correctly answer your question, the terms of your lease must be reviewed. Generally, if you break a lease (residential or commercial) the landlord can hold you liable for the unpaid term of your lease until the premises is rented again.
A: As we sit here, the NYC law was changed to nullify personal guarantees. Thus, the landlord cannot do so. However, there are constitutional and jurisdictional issues that make this law suspect, so it is unclear now what will happen. If you want to break your lease, now is the time to do so, as you have the greatest leverage.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.