Legal Question in Business Law in Colorado

business lease

My ex husband and myself had a business which was a part of an LLC. When he left, he wanted 100% shares of LLC - which I gave him. The business we had he cleaned out and left me without anything in it and I now have the lease to pay each month. The business has no income at all and I am personally borrowing money to pay the monthly leases. Can I get out the the remaining lease, can the business go bankrupt, or do I have to personally go through a bankruptcy?


Asked on 11/13/07, 7:55 pm

1 Answer from Attorneys
Joseph T. Bernstein

Re: business lease

Who is on the lease? Is it the LLC, you, your ex-husband, or both? This matters, because if you are not personally on the lease, then you do not have to pay the lease payments. If the LLC is on the lease, then the LLC is obligated to make the lease payments, even if you are also on the lease. You can sue the LLC (and/or your ex-husband) to make payments on the lease. Or, you can simply stop making payments and wait for the owner of the property to sue you. Then, you can interplead the LLC and/or your ex-husband into the lawsuit, and require them to contribute to the payments.

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Answered on 11/15/07, 4:49 pm


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