Partnership Q&A: Partner wants out of the company and the lease

Nina L. Kaufman, Esq.

Nina L. Kaufman, Esq.

Nina L. Kaufman, Esq., owner of Ask The Business Lawyer, is an award-winning business attorney, speaker, and Entrepreneur Magazine online contributor. She saves consulting and professional services companies time, money, and aggravation by serving as their outsourced legal counsel.

Posted on February 24, 2010 in Disputes

Q.:  I started an LLC in the state of Arizona with two partners. After a year in business I am choosing to take another path and I am attempting to separate my legal liabilities. We initially signed a three-year lease with personal guarantees and currently have 23 months remaining. I am trying to figure out the route to take in order to bring a convincing argument to the property manager/owner to be removed of liability.

When a partner resigns from an LLC, what can that partner do to remove liability from the lease?

Read on to find out!

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Tagged as: "q & a", business partnerships, ending business relationships

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