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JGM
JGM, Solicitor
Category: Law
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Experience:  30 years as a practising solicitor.
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17 Years ago I signed a shop lease on behalf of a Limited company.

Resolved Question:

17 Years ago I signed a shop lease on behalf of a Limited company. The company was wound up 2 months ago via Companies House. I was a Director. My landlord ( who was the son of my original landlord (deceased) recently sold his interest in the property to his sister - who is now my landlord.
She has been given 3 months notice that we will vacate (2 weeks to go) and was happy that we paid 3 months rent in advance. She is now suggesting that we should completely decorate the shop for the incoming tenant when, throughout the last 17 years, I have paid for all maintenance of the shop.
Can she now start quoting clauses of an agreement that was made 17 years ago on a property that she purchased only 6 months ago? The property is in exactly the same condition now as it was when she bought it!
Submitted: 2 years ago.
Category: Law
Expert:  JGM replied 2 years ago.
Thank you for your question.
Under normal circumstances a change of landlord doesn't change any of the obligations in the lease and a new landlord simply steps into the shoes of the old. What obligations there are on a tenant to carry out dilapidations will be governed by the lease and typically there can be provisions which impose decoration and maintenance obligations on an outgoing tenant.
However, if the tenant here is a limited company and the limited company no longer exists then the landlord has no one to enforce the obligation against. In the absence of any personal guarantee on your part you can walk away from this.
Happy to discuss further.
Please leave a positive response so that I am credited for my time.
Customer: replied 2 years ago.

Does my signing the lease on behalf of the Limited Company constitute "personal Guarantee"?

Expert:  JGM replied 2 years ago.
Absolutely not.
Expert:  JGM replied 2 years ago.
A personal guarantee is where you personally guarantee the rent and other payments in the event of default by the company and it has to be quite specific..
Signing on behalf of the company only binds the company which in this case you have advised no longer exists.
JGM, Solicitor
Category: Law
Satisfied Customers: 10653
Experience: 30 years as a practising solicitor.
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