Can I release my tenant from her lease agreement?

Question

I'm planning on doing a loan modification and currently have a tenant in my property whose lease will not expire until april 2010. Frankly speaking that property was intended as a primary residence but because of economic problems was forces to look for alternative means in order to make ends meet. Can I release my tenant from her lease agreement? I post this question because she is more than interested in being release from her agreement with me.

Answer 1

Best Answer - Chosen by Asker

It is fine to release an agreement, if both parties make an addendum and sign it.

A legal agreement between two parties can only be enforced by one of the two parties involved. If both agree to negate the agreement, there is no available power to enforce the agreement's terms.

Source(s):

Http://www.HowTo-RentYourHouse.com ...e-book

Asker's Rating:

Asker's Comment:

thank you

Answer 2

If both you and your tenant are willing to terminate the lease agreement...legally, you may do so. Construct your lease termination terms in writing to protect yourself.

Good Luck!

Answer 3

If both parties agree on the terms, the lease can be terminated.

Answer 4

Yes - as long as you both agree to it. Put it in writing just to keep things legal in case she later says she didn't want to end early.

Answer 5

Yes, you can. You can get the legal forms you need in order to legally release your tenant from her lease agreement at the website below.

Source(s):

http://www.legalformsbank.biz/lease.asp

Answer 6

The language commonly used in lease agreements varies in different states. The important thing to remember is this: Any change you make to your lease agreement should be in accordance with the language in that agreement. Your lease probably has a termination clause that spells out how the lease may be terminated. Be sure the addendum that you write is clear on all details of the termination, and is dated and signed by both you and your tenant. You should each retain a signed original copy.

Answer 7

SURE! The law allows you to hold them to it, but it does not require that you do so. If you want to release her that is purely up to you.

Just make sure that you both sign something stating it was mutual so nobody can be sued for breaking a lease.

Source(s):

I'm a property manager