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This is not an area i have had much experience in so I was hoping that someone maybe able to assist.

 

A friend of mine was a director of a small company (along with 4 other people) and also listed as a tenant on the lease for the shop. She's currently in the process of leaving the buisness and has I belive removed herself as a director of the company and signed over her shares.

 

The only thing that is left is the lease for the shop, as i say there are 4 tenants listed on the lease (being the origional 4 directors) what would be the process for removing her from the lease? as i assume until she is removed she would be liable for the rent, though at the moment she does not have enough money to afford the rent on her bedsit so she would struggle.

 

Any starters for 10 would be greatly appricated.

 

Simon


It is easier to enter a rich man than for a camel to pass a needle

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It would depend upon the capacity she signed the lease in, if as a director then her liability ends when she resigns her directorship and notifies LL of the same. If it was in a personal capacity you are right about being jointly and severally responsible so she would need to approach all parties to get a variation on the lease. She would know how things are going by how quickly they respond.

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Hi Eric,

 

Thanks for that, I have checked a bit further and she has signed as a tenent rather than as a director, so I will advise her to discuss with the others.

 

It never helps to come in after the event and help someone pick up the pieces.


It is easier to enter a rich man than for a camel to pass a needle

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