Virginia | Real Estate Law
Legal Question
I have a comercial lease in a small shopping center. My lease says that if I default on any payments, I will surrender the property and be held liable for the remainder of the lease (after a unlawful detainer and a judge granting possetion). Well my business was a flop. I was a month behind on payments so the property manager took me to court and won the judgement. The property manager wants me to stay because I am currently employed elsewhere and I am making payments. The bad part is that my unit is sitting, not making any money, and I am using almost all of my money paying for it. I have 9-10 months left on my lease.
Here is my question. When we went to court, the judge granted imediate possetion to the owner. (Once again, they want me to stay, there are already several vacant units and it would look bad for the shopping center without some items in my window.) Can I get out of the remainder of my lease somehow? I know the lease states that I will be responsible for the remainder if I do, but it also gives no grace period for recieving rent. In VA, there is an automatic 5 day grace period no matter what the lease says. Is there any law that would aleviate my responsability to pay the remainder of the rent if I vacatied the premise early, since possetion was awarded to the owner in court?
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Read More Answered By: Michael E. Hendrickson |
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