Legal Question in Business Law in Minnesota

Business lease

I own by business and have four years on my lease, with the economy bad what if I can't pay my lease? Can I get out of it? What are my options?


Asked on 3/04/09, 3:48 pm

2 Answers from Attorneys

David Anderson Anderson Business Law LLC

Re: Business lease

3 Choices:

Do nothing and let the waves crash over you.

File Bky

Negotiate reduction/termination.

I have assisted business clients with the 3rd Option.

Call or email for assistance.

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Answered on 3/04/09, 4:12 pm
Sam Calvert Calvert Law Office

Re: Business lease

You don't say where you are, other than Minnesota. You should talk to a lawyer about options. Possibilities:

a) sublease the property; b) negotiate a reduced rate with the landlord; c) file a bankruptcy; d) stick with it and see what happens; e) "attack" the lease because the landlord has somehow breached it; etc.

You need someone to help you take a comprehensive look at the situation,not just look at the lease without regard to whatever else may be happening.

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Answered on 3/05/09, 5:47 am


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