Exiting a Commercial Lease

[mircometro]

What is the name of your state (only U.S. law)? Florida
On June 1, 2012 we entered into a commercial lease with 4 members to set up a business.
The date of the lease starts July 1, 2012 and is for a 3 year duration.
We created the LLC after signing the lease, and the Articles of Organization statement shows an effective date of June 5, 2012.
The lease reads each of our names then doing business as (DBA), but does not read LLC.
In the event that we wish to break the lease, how liable could each of us be personally?

 

[Zigner]

From what you've posted, it sounds as if each of you could be fully responsible (personally) for the lease.

 

[LdiJ]

What is the name of your state (only U.S. law)? Florida
On June 1, 2012 we entered into a commercial lease with 4 members to set up a business.
The date of the lease starts July 1, 2012 and is for a 3 year duration.
We created the LLC after signing the lease, and the Articles of Organization statement shows an effective date of June 5, 2012.
The lease reads each of our names then doing business as (DBA), but does not read LLC.
In the event that we wish to break the lease, how liable could each of us be personally?

It depends on whether any of you gave personal guarantees for the lease.

 

[Zigner]

It depends on whether any of you gave personal guarantees for the lease.

Psstt - they were each listed as individuals.

 

[tranquility]

I agree with Zigner. The lease is with the individuals. In fact, I'd say the LLC is not liable at all.

 

[mircometro]

10-4. That's what I thought. Thanks guys.