Z
zwhite
Guest
What is the name of your state?FL
They saw me coming! I purchased a failing business in a historic district-tourist trap, no local business to survive on. I began as a sole proprietor and signed the lease and the remaining balance of a loan of $20K to previous owner with my name not as business. If I change to LLC will I still be held liable for the lease and this loan
(owner finance)? I paid $30k down. At the closing I was introduced with
another debt acknowledgment of $5k the previous owner had to put up
to landlord for personal business assurance not to fail. I had no idea till
then I was to have two months rent totalling $5K. The realtor failed to do
his job big time and previous owner withheld way too much information.
Learning the hard way here! Thanks
They saw me coming! I purchased a failing business in a historic district-tourist trap, no local business to survive on. I began as a sole proprietor and signed the lease and the remaining balance of a loan of $20K to previous owner with my name not as business. If I change to LLC will I still be held liable for the lease and this loan
(owner finance)? I paid $30k down. At the closing I was introduced with
another debt acknowledgment of $5k the previous owner had to put up
to landlord for personal business assurance not to fail. I had no idea till
then I was to have two months rent totalling $5K. The realtor failed to do
his job big time and previous owner withheld way too much information.
Learning the hard way here! Thanks