Lease Contract

UPDATED: Oct 1, 2022

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Lease Contract

We signed a lease contract on a Saturday 3/23
and on Monday 3/25 we told our realtor we
canny move because we need more time as
we are concerned about getting our security
deposit. The realtor said we are in a legally
binding contract and cannot get out. There is
an approval process with the association that
has to be completed. We havent even begun
to do that all we have done is singed the lease.
There is an approval contingency that says
either party can terminate the lease at any
given time prior to the approval process. We
need to know our rights.

Asked on March 26, 2019 under Real Estate Law, Florida


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

Generally, once you sign the lease, you are obligated to it even if there are circumstances making it disadvantageous to you to go ahead with the rental: the whole point of a contract (a lease is a contract) is to bind parties and impose enforceable obligations on them even when they decide they'd rather not be bound.
However you write that the lease itself contains a contingency allowing termination prior to approval. Such as early termination contingency is valid and itself enforceable. You can terminate the lease exactly as set forth in that contingency--just be sure to fully comply with that contingency and with any other relevant lease provisions, such as in regards to how to send notice to or communicate with the other side.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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