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Personal guarantor to commercial lease

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  • Personal guarantor to commercial lease

    I am a guarantor to my company’s commercial lease, my company is now selling on the lease and the company is required to be a guarantor to the next buyers, my question is am I still personally guaranteeing this or is now now solely the company guaranteeing it?

    Am I now personally released? In which case can the company be dessovled with no come back to me personally?
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  • #2
    To add a bit more detail, my original license to assignment had my name guarantying my company, Now I’m selling the new license to assign has only my company down as a guarantor for the new owners. No mention of me guaranteeing anything but I’m not sure if it follows on from the last assignment?

    can anyone help

    Comment


    • #3
      When the limited company guarantees the new lease, assuming it doesn't require you to guarantee the company still, you would be released personally.

      However, you cannot dissolve the company because it has creditors due to guaranteeing the lease and I'd imagine the new owner would move to block any dissolution.
      HOW TO COMPLETE AN N180 DIRECTIONS QUESTIONNAIRE (SMALL CLAIMS TRACK) FORM?

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