... I agree. Find an attorney that does foreclosure defense work. Try to do this asap, once a default judgment is entered against you, it becomes more difficult. I know there is a lot of information floating around on the internet, but you really can benefit from a professional opinion. Good Luck.
I agree, additionally keep in mind that you have no obligation to renew, just like the landlord has no obligation to keep the rent at a certain price or renew the lease. I encourage you to treat this practically, and consider all factors such as moving costs, etc. Good Luck.
Sorry to hear about your problem, You got good answers. I would also look at your overall situation. You might have a few more options, but it is difficult to tell based on your fact pattern. I suggest you contact an attorney. Good Luck.
You probably have more options than you are aware of, one of them being collecting rent. There is no need to mention partner’s name to the bank. But you should really get more information from an attorney that handles foreclosure cases. Good Luck
It is difficult to give you an answer without looking at the documents. I would suggest you look at this in the most practical way possible: compare the cost of a lawsuit (i.e. court cost, attorneys fee, time away from work, etc.) vs a possible settlement. I do not know if the owner will ever actually sue you. He might not want to spend the money, or he might be afraid that he would collect anything if your company files a bankruptcy. Either way, think this though and be prepared. Good luck.