Monday, August 16, 2010

Is a rental lease legally binding if it was not signed by all parties?

I have purchased a home and it is more cost effective to ride out the terms of my apartment lease instead of paying the lease break fee. It was brought to my attention by a leasing agent at my apartment complex that the property manager did not sign the lease. He said it is only binding if both the leasing agent and property manager have signed it. I do not entirely believe what I was told鈥an I walk away??? Thanks!Is a rental lease legally binding if it was not signed by all parties?
You are bound by the lease. Because you moved in and paid rent, even if there was no writing, it would be a binding agreement. Additionally, an agreement only has to be signed by the person to be charged with nonperformance. Therefore, you are stuck either way. The fact that the rental agent did not sign it has no bearing. That is why they often don't worry about signing it once they have your signed copy.Is a rental lease legally binding if it was not signed by all parties?
Unfortunately it is binding because of your possession of the apartment. Your lender may be willing to pay the termination fee for you.





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