When devon purchased the storage facility

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Reference no: EM131627963

In the four years since Devon started Yard Tech in Florida, he incorporated the business, purchased two trailers and two pickup trucks, rented a storage facility for his trucks and equipment, and hired 2 full time employees. Yard Tech services include mowing, edging, mulching, planting, pruning and a variety of landscaping services. Yard Tech also offers pool cleaning services for a few clients. As expected, Devon and Yard Tech experience several scenarios while conducting operations. On December 31, 2013, Devon entered into a 5 year lease for a storage unit with Rudy. In September 2014, Devon discovered he needed more space and found a great deal on a storage facility with indoor and outdoor space for his vehicles and equipment. Instead of leasing, Devon purchased the entire storage facility with the intention of renting out some of the space to help pay for the purchase. Devon knew that Rudy would not let him out of the lease, so he assigned his rights under the lease to Girish on January 2, 2015. Girish used the storage unit and made payments for five months. Without Rudy’s or Devon’s knowledge, Girish vacated the unit end of July without paying for June or July and still owing the remainder of the rent for the lease period.

When Devon purchased the storage facility, he obtained a mortgage from Regions Bank

Which party is liable for the remaining rental payments? If the party liable for the debt does not pay and Rudy obtains a judgment ordering payment from that party, what are Rudy’s options for seeking payment?

Reference no: EM131627963

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