Announcement

Collapse
No announcement yet.

Spousal consent on lease?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Spousal consent on lease?

    In the process of negotiating a lease for medical space. Initial draft lease has a spousal consent at the end stating spouse understands and agrees to lease and agrees landlord can pursue community property or joint tenency interests in satisfaction of lease.  My lawyer struck that out among other things and am awaiting to hear back. I was just wondering if this is common/standard practice to have spouse sign?

    Thanks

  • #2
    Let's say it's a common attempt. And, why shouldn't the landlord at least try to get both of you to sign? Typical for spouses to co-sign on debt, not so much on leases, at least in my experience.
    Our passion is protecting clients and others from predatory advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

    Comment


    • #3
      Interesting that it is common enough to be notable. Should this lease not be in the name of the LLC/partnership etc.? If so, there should be no relationship to the spouse, right?

      Comment


      • #4
        Not uncommon to ask for a personal guarantee as well as having the LLC or limited partnership be liable for the lease.  From the landlord's perspective, get more collateral and more parties with joint and several liability if you can.

        Comment


        • #5
          For a follow up question: If spouse did sign, hypothetically - what do you think is the most likely scenario something like that would come into play where they would go after communal property on top of anything monetary?  Just trying to weigh risks if they insist on that being signed - the space is in a decent location with a good number of other groups for referrals...

          Comment

          Working...
          X