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For LLC partnership who has to sign a lease for the company space renting. Can it be only on LLC's name,use LLC Tax ID name?

Santa Ana, CA |

for LLC partnership who has to sign lease for the company space renting. Can it be only on LLC and use LLC Tax ID name?

Sorry Tax ID number.

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Attorney answers 5

Posted

Yes, the Manager (or Member if Member-managed) of the LLC can sign the lease. There is no "Tax ID name", perhaps you are thinking of a fictitious business name?

The above is general legal and business analysis. It is not "legal advice" but analysis, and different lawyers may analyse this matter differently, especially if there are additional facts not reflected in the question. I am not your attorney until retained by a written retainer agreement signed by both of us. I am only licensed in California. See also avvo.com terms and conditions item 9, incorporated as if it was reprinted here.

Asker

Posted

LLC TAX ID number not using SS for individual. IF one member is signing a lease and other not and if something happen to company who is responsible?

John P Corrigan

John P Corrigan

Posted

All depends if the signing member did so on a "personal" basis or in such capacity as a Manager of the LLC....as in "by: John J. Jones, Manager" vs. "John J. Jones, an individual." The first example there is no personal liability -- the second there is because you did not distinguish yourself as a company representative only.

Posted

Yes, the tenant would be the LLC unless the landlord dictates that it wants a co-signer (an owner of the LLC) instead of a personal guarantee of the members.

My answer is not intended to be giving legal advice and this topic can be a complex area where the advice of a licensed attorney in your State should be obtained. Please click "helpful" or "best answer" if my answer added any value or add a "comment" if you have more info for me to help you get a better answer.

Posted

I agree with my colleagues:

The lease may be in the LLC's name, though frequently a landlord will ask for the members to guarantee the LLC's obligations personally.

This information does not constitute legal advice and does not establish an attorney-client relationship.

Posted

The lease can be in the LLC's name. The landlord may also ask for a personal guarantee.

The information provided is intended for informational purposes only and should not substitute for the advice and counsel of an attorney. This information does not constitute legal advice. We ask that you consult with a lawyer, as your facts are unique and because each situation requires analysis from many different perspectives. We cannot be responsible if you rely on information based on this website without the consultation of an attorney.

Posted

For your the protection of your own personal assets I recommend that you try not to sign a personal guaranty. If the landlord lets the Manager(s) of the LLC signed the lease this will not result in personal liability to you. If you signed in as managers make sure that your signature notates, "Manager".

The above is not legal advice. It is an illustration of options that can be used in certain situations. I have not examined all of your facts, if I did I might provide a different response.

The above is not legal advice. It is an illustration of options that can be used in certain situations. I have not examined all of your facts, if I did I might provide a different response.

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