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I understand that I stupidly put her name on the lease what I dont understand is if we are both entitled to the deposit as we are both on the lease despite the fact that I put up the deposit, why is she not entitled to have paid the last years half of the rent. When I presented this to the Co-op they responded by saying as long as the rent was paid they were not interested as to who paid it. As I was not in a position to be able to walk away and lose my deposit I have been paying the rent ever since.
Yes I did - and I have now been told that the lease expired on 5th Jan although I was not informed of this until yesterday.
The deposit is for £9,000 - but the business is worth £35,000 my concern is I am unable to sell the business whilst she is on the lease I am told people would be concerned of having a so called silent partner. I have also been told to get her off the lease will cost me £1,500 and I would need to renew the lease and have someone stand guarantor (not sure why). The co-op are speaking with their solicitors to find out next action. If I walk away now I stand to lose half the deposit and have a fight on my hands but also with the knowledge that I could not sell the business. However if I renew the lease I will need to go the through the proceedings of getting her off the lease at my expense.
Please can you explain the following:-
post dissolution of your partnership - she would therefore be entitled to claim from you potentially the liabilities that you incur and take post dissolution - this may have the effect of cancelling out any claim you have for half the rent.
If the lease renewal is not in my best intention for example they will only allow me to renew if the lease is for a minimum of three years (which I would not be interested in). And the co-op insist on dividing the deposit are there actions that I should start to perform now with regards ***** ***** my deposit and should those actions be directed at her via letters as suggested or could I deal directly with the co-op
Ok can do that with regards ***** ***** co-op with regards ***** ***** with getting es partner off the lease I have been down this road already and was informed by the co-op that it would cost me £1,500 to pursue this avenue which of course she had no interest in paying. Now the lease has expired however where do we stand?
No they have done neither I understand they are talking to their solicitors - so if I were to obtain a letter from the ex partner to say she has no interest in the lease or deposit or business I could then roll on alone, make no changes and legally be enititled to both full deposit and any monies if the business sold?
Just to advise you this is not a limited company I am a sole trader the only name that appears on any documentation is both on the leasehold. I borrowed in my own name to get the salon up and running and there was never any contract between us.
When you say liabilities are you referring to half the rent? So would my best be to try and get the co-op to release the deposit to me and walk away? Is there a technical format I could address to her to say now that the partnership is dissolved and that she is not enititled to anything to entice her off the lease and then once this has happened she wouldnt be entitled to anything in the future. Even if I have to pay the £1,500 to get her off of it.
OK prepared to walk and apologies to go full circle but If I have no joy getting the co-op to return the deposit fully back to me where do I go from there - is it best my solicitor deals with the co-op with regards ***** ***** matter am I in a position that they should legally "see" that the deposit is mine. Or should I open up communication with ex partner to just have confirm she has no interest or entitlement lease.
Sorry to be stupid but are they able to do that despite what you have stated earlier in that the deposit is clearly mine? If she were to send a letter of resignation to the co-op would that stand up as her walking away or do I need a more formal document to present to them.
Can you clarify what a deed means?