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

Posted on January 24, 2020 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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