By signing a new lease agreement does this supersede the old lease agreement and release us from the old business obligations?
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By signing a new lease agreement does this supersede the old lease agreement and release us from the old business obligations?
We were in a 5 year lease for the last 2 years we have paid the owners less than the contract amount. They have accepted this amount every month but now that it is time to sign a new lease they are agreeing to this amouny. If we continue with a new lease can they still hold us liable for the deficit of the old lease?
Asked on May 22, 2012 under Real Estate Law, California
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Yes, they can unless your new lease voids the old and you get a release for the rent that you owe. Please do not sign anything unless you speak with an attorney and discuss all the issues involved here. Your landlords seem to be more than reasonable so the extra provisions in the new lease to protect you may not be a big deal. Good luck.
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