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Updated about 7 years ago on . Most recent reply
Re write a lease agreement or not
Good Afternoon all,
I am actually renting my property to a couple they are separating but they both signed a one year lease agreement (7months left). They would like to resign the lease to take his name out.
Any suggestion?
Thank you
Most Popular Reply
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I would not rewrite the lease. Tell them both that they will remain on the lease and both will be held responsible for the rent. This will insure that the remaining tenant will not default on the rent during the term. You do not care who is living there or who pays, what you care about is who you go after when rent is not paid. Keep both on the lease and both are responsible. At the end of the lease you can then decide how to move forward.
Your goal is to protect your business interest.