Will we get punished for leaving early if there is technically no lease signed?

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Will we get punished for leaving early if there is technically no lease signed?

We have lived in this house for 4 months and still have not signed a lease due to the landlord not ammending the lease correctly to reflect the terms of the agreement. We are fed up and don’t want to deal with this landlord. Can we leave without being punished financially? Our roomates have signed the lease but we have not. Our roomates have given their whole deposit and we have not. The landlord wanted us to rent the house a couple years with the intent to buy, but the market value of the house is $340,00 and they want over 500k. We need out because of the wishy washy terms.

Asked on March 22, 2012 under Real Estate Law, Colorado

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

So you have signed nothing, correct?  Really?  Not even the "bad" lease with the wrong terms?  Then you have an oral contract which is enforceable under certain conditions.  Here, though, on the "rent to buy" issue I think it would not be enforceable.  It changes the title to the house and that would have to be in writing to be binding.  So I would assume you had a month to month tenancy and give 30 days written notice that you are vacation - to everyone: landlord and the tenants that signed the lease.  I might also double check this with an attorney in your area familiar with local landlord tenant laws.  Good luck.


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