Lease Balance
Categories: Real Estate
See: Lease.
You started your lease with 36 months of 5 grand a month in lease payment obligations. But now 14 months have passed, and you only have a balance remaining on your lease obligation of 22 months, or $110,000.
Don't like the building anymore? Wanna move? Tough. You still owe what you signed you'd pay.
Maybe you can sub-lease the building to someone else. But if you can't, it's you who is on the hook for the dough.