Can the tenant sue me even if I had sold my share of the business 2 years ago?

Asked almost 2 years ago - Las Vegas, NV

In 2010 I opened a restaruant with my cousin and i signed a personal argeement with the tenant, but after 3 months business was doing good and my cousin was being shady n screw me over n gave me no profit That was gained. I got a lawyer n sold my share to my cousin n have nothing to do with the rest and any debt they will have. Turns out 2year later my cous didn't pay any rent to tenant and stole all the Equipments In the restaruant.Now my name is in the argeement and she's suing me the damage and the rent. I thought I had nothing to with anything and now I'm stressing. What can I possibly do at now and should I get a lawyer? A lawyer told me that I would have to write a motion to the judge and get a hearing? I can't afford to spend too much money, cause my cous already schemed most my $$

Attorney answers (3)

  1. Pamela Koslyn

    Contributor Level 20

    4

    Lawyers agree

    1

    Answered . Generally when someone sells a business they have a :buy-sell" agreement which spells out any known liabilities using warranties and apportions the risk of unknown liabilities to one of the parties.

    So you should see the lawyer that handled the sale to review what warranties if any you got in the sale. You may need to sue your shady cousin for "indemnity" for the liability they may have left you with.

    Avvo doesn't pay us for these responses, and I'm not your lawyer just because I answer this question or respond to... more
  2. Scott E. Chapman

    Contributor Level 10

    2

    Lawyers agree

    1

    Answered . I believe you mean the Landlord...but that's an understandable confusion. You need to hire a lawyer immediately. If your name is on that lease, you will in all liklihood be liable. However, you do have some recourse, most specifically against your cousin, if your lawyer was good enough to include 'imdemnification' language when he took it over. Unfortunately this will costs money. If you do nothing or try to handle this yourself, it is more than likely that you are looking at a very large judgement against you from the landlord. That what you would pay a lawyer would likely pale in comparison to the judgment. If you own any assets at all, they would then start to go after your assets. It is important to defend yourself. You may be able to get out of this case very easily via a motion...it depends on the specifics. You can also very liekly find a lawyer that will take payments with very little up front...I know our office will often do that. Best of luck and consult a lawyer immediately, time is of the essense.

    The recommendations in this answer are not considered legal advice for the purposes of ethical, legal and... more
  3. Eric Jerome Gold

    Pro

    Contributor Level 19

    2

    Lawyers agree

    1

    Answered . Ms. Koslyn is correct, you should contact the lawyer that you used to aid in your sale of your interest in the restaurant. I understand that you don't have a lot of money for this, but a few well spent dollars now may save you from a lot of legal work down the road.

    When responding to questions posted on Avvo, I provide a general purpose response based on California law as I am... more

Can't find what you're looking for? Ask a Lawyer

Get free answers from experienced attorneys.

 

Ask now

26,614 answers this week

2,831 attorneys answering

Ask a Lawyer

Get answers from top-rated lawyers.

  • It's FREE
  • It's easy
  • It's anonymous

26,614 answers this week

2,831 attorneys answering