Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 8 years ago on . Most recent reply

User Stats

91
Posts
41
Votes
Bob Foglia
  • Investor
  • Phoenix, AZ
41
Votes |
91
Posts

Colorado Commercial lease

Bob Foglia
  • Investor
  • Phoenix, AZ
Posted

I have a general lease question regarding the enforceability of a clause. Let me condense this as much as I can... I'm happy to elaborate if needed...

Scenario:

Two partner, member managed LLC...

Partner 1 signed original lease for commercial space with authority of both partners and a personal guarantee that was signed by both partners.

Fast forward... Partner 1 now goes and signs a new lease (amendment) without partner 2's okay, and is even the only one on the new personal guarantee. 

BUT... the original lease states and I paraphrase... "guarantee is not waived due to any modification, amendment or alteration of the lease whatsoever". 

In the state of Colorado, is Partner 2 now "on the hook" for the actions of Partner 1? 

Loading replies...