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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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I would like to know the legal aspect of what signing a

Resolved Question:

I would like to know the legal aspect of what signing a Lease actually means. If a tenant signs a Lease but goes bankrupt, is that tenant still responsible for paying the rent, or if they leave the building without finding another tenant to take their place, in the eyes of the law, are they still responsible for that rent?
Submitted: 9 months ago.
Category: Law
Expert:  Ash replied 9 months ago.

Hello my name is ***** ***** I will help you with this.

What does the agreement say? Does it say it comes to an end?

Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience: Solicitor with 5+ years experience
Ash and 2 other Law Specialists are ready to help you
Customer: replied 9 months ago.
Where are you? This is no service. We have paid for a telephone call and there has so far been none.
Customer: replied 9 months ago.
we are waiting for your phone call .*********** he has signed a full repairing lease until 2019
Expert:  Ash replied 9 months ago.

Thanks. Alex

Customer: replied 9 months ago.
Hi AlexI have one more question now. I have seen the Lease and it says that the tenant shall become bankrupt whether compulsory or voluntary or a receiver is appointed over any or all of its assets. Then and in any such case, the Landlord may at any time thereafter re-enter the premises and immediately thereupon the tenancy, hereby created, shall absolutely determine but without prejudice to the rights and remedies of the Landlord against the tenant.How does this answer my question?
Expert:  Ash replied 9 months ago.

That means the lease can come to an end. So if bankrupt then you can re-enter and take possession.

Alex

Customer: replied 9 months ago.
Just to clarify, if the tenant goes bankrupt, we take back the building but he is not liable for rent. If, on the other hand, he wants to leave and walk away without going bankrupt, he is liable for rent until 2019?Under surety, if the tenant shall become bankrupt and the trustee in bankruptcy shall disclaim this lease and if the Landlord shall, within 3 months after such disclaimer by notice in writing, require the surety for the personal representatives of the surety to accept a lease of the premises for a term commensurate with the residue which if there had been no disclaimer, would have remained of the term at the same rent and under the like covenants and conditions as are reserved by and contained in this lease. Is this relevant to any of the above?
Expert:  Ash replied 9 months ago.

Correct.

No, that last clause is not relevant, because he would be bankrupt.

Alex

Customer: replied 9 months ago.
to finish, if the tenant goes bankrupt, we retake back the property but receive no rent. If he walks away without being bankrupt, the tenant is liable for the rent until 2019 or unless he can find somebody else to take the lease over?
Expert:  Ash replied 9 months ago.

Correct. Does that help? Alex

Customer: replied 9 months ago.
Thanks Alex it does.Thank you for your help. Have a good night.
Expert:  Ash replied 9 months ago.

Good luck. Good night.

Customer: replied 9 months ago.
Thanks.

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