Q: i have been renting an apartment for 2 years. original lease expires at the end of this month. a week ago I signed
another agreement to stay another year but have had a change of heart. i want to move out at end of month. How binding is current extension agreement?
A:
If you signed and turned it into the landlord, and they agreed to the terms of the extension, you cannot simply 'back out'. You MAY be able to convince the landlord to allow you to pay a penalty and get out early, but that would be up to the landlord. Once you've agreed, and the other party has accepted the contract, you have a binding agreement. There is not a 'degree of bindingness' -- the contract is either binding or it is not. If there has been an offer and an acceptance and the terms of the agreement are spelled out completely, then the contract is done.
If you have doubts, it may be worth consulting with a local landlord tenant attorney, but don't expect much.
-- This answer is offered for informational purposes only and does not constitute legal advice or create an attorney/client relationship.
I am licensed to practice in Michigan only. Please seek competent local legal help if you feel you need legal advice
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