Is there a way to get out of a 5-year commercial lease?
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Is there a way to get out of a 5-year commercial lease?
Have not signed lease and don’t want to do a 5-year, but it is a prime location
for my business. The Landlord originally had listed as a 2-year when I looked at
with realtor, and I offered to do a 1 year with 4 mos. rent and security. He
verbally agreed, but then showed to another potential Lessee who said they would
do a 5-year. When my realtor shared that info with me, I then said I would do a
5-year. Just wondering if any outs if I do sign??
Asked on July 31, 2019 under Real Estate Law, Connecticut
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 4 years ago | Contributor
If you sign the lease, you are locked into and cannot get out of it unless:
1) There is some early termination clause in the lease and you fully comply with it.
2) The landlord violates his/her/its obligations under the lease in some material or important way.
Otherwise, the lease is a binding contract.
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