If we sold a business and subleased to the new owners who have now defaulted on the lease, can we sue them for this money?

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If we sold a business and subleased to the new owners who have now defaulted on the lease, can we sue them for this money?

Their wealthy parents signed as guarantors on the lease. The new owners are now behind on rent and the landlords are threatening to evict the new owners and come after us for rent owed for the entire remaining period of the lease.

Asked on October 8, 2012 under Real Estate Law, California

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

If you get sued for the default on the lease by the buyers of the business that you sold by the landlord you can then cross complain against the buyers and their wealthy parents based upon the personal guarantee they signed as to the lease that you have written about. You might consider consulting with a business attorney about your matter for assistance.


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