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Buachaill
Buachaill, Barrister
Category: Law
Satisfied Customers: 10528
Experience:  Barrister 17 years experience
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dear sir, i have a shop lease expires in 5 years, on a limited

Resolved Question:

dear sir,
i have a shop lease expires in 5 years, on a limited company that dissolved Oct 2013. i have no PG, can the landlord come after me personally for outstanding debt. i have been paying rent since the company dissolved but can no longer do it. all rent deposits cover the rent arrears.
regards
Submitted: 2 years ago.
Category: Law
Expert:  Buachaill replied 2 years ago.
Buachaill :

1. At the outset, if the shop lease was in the name of the company, you have no liability under the lease to pay the rent. Just because your limited company leased the premises does not mean that the landlord can pursue for the rent. So you can safely stop paying rent in this instance and there will be no repurcussion. However, if the shop lease was in your name, then what you should really do here is to assign the benefit of the lease to someone else. Essentially, carry out an assignment to a new lessee of the shop lease. In that way, you will have someone else carrying the burden of paying the lease and there will be no call on you to pay the rent. Otherwise you will end up making payments for the next five years. In point of law, a lessee is liable for rent until the term of the lease expires.

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Dear sir

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