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FAQ

If you sign a lease to purchase agreement, can you back out after a year because you’ve decided to not purchase?
Yes, but . . .You’d be in the same position as if you’d simply signed a purchase agreement (forget the lease part) and then backed out. You’ll lose your down payment, plus be responsible for any other charges included in the purchase agreement. If the lease-purchase agreement included any rent credits for purchasing, you’d lose those, too.And it’s possible that the seller could sue you for damages. Let’s say you’d agreed to buy the property for $300,000 but property values in the area have declined and the property is now only worth $275,000. The seller could argue that he could have sold the property a year earlier for $300,000 but, based on your promise to buy, he didn’t. Now the property is only worth $275,000. He claims damages of $25,000.Any properly written lease-purchase agreement spells out all these possibilities. Read the agreement. Then contact a lawyer.
As the company, how do I correctly fill out a Stock Power as part of a stock purchase agreement?
The Stock Power in question evidently is an exhibit to a Stock Purchase Agreement by which the OP is purchasing restricted stock that is subject to forfeiture or repurchase by the company, entirely or in part, probably based on how long the OP continues to work with the company.Yes, just signing is the proper thing to do (from the company’s perspective) because at this time it is not known whether, or to what extent, the OP’s shares will be subject to forfeiture or repurchase.So, if and when the time for forfeiture or repurchase arrives, the company will fill in the rest of the Stock Power to transfer the forfeited or repurchased shares to the company - you will keep the shares that have vested as of that time.For the OP’s comparison, and for the benefit of Quorans who are not familiar with such Stock Powers, here is the text of the instructions that I put at the bottom of a Stock Power:(Instruction: Please do not fill in any blanks other than signing at the signature line. The purpose of this Stock Power is to enable the Company to exercise its right to reacquire Restricted Shares in the circumstances provided in the Restricted Stock Agreement without requiring an additional signature by the Grantee.)
I want to build a cottage on someone else's property and rent it out. What would be a way to structure a deal with the landowner? A lease-purchase agreement? Profit share?
I agree with Scott, you'll need a real estate attorney to put the deal on paper for you.What you propose is very similar to how leases work with shopping centers and gas stations. These are often called a "land lease." The person leasing the land pays rent to the owner and is usually responsible for all taxes and insurance. They also assume liability for anything that happens on the land, whether they use the land themselves or sub-lease it to someone else. If someone builds a structure on the land, that structure may become the property of the land owner at the conclusion of the lease or if the tenant (you) defaults on lease payments. There are many variables, so it is good to discuss your specific situation with a broker or attorney who has experience in this area.
Is there any way to get out of a rental lease agreement due to loss of job and financial trouble?
Is there any way to get out of a rental lease agreement due to loss of job and financial trouble?No and yes.No: Not unless you lease allows for it. If your lease said something like this: “Tenants shall have the ability to cancel this lease on 30 days‡ notice in the event of provable job loss or financial difficulties,” then it’d be OK because it’s in your lease.But it’s not.You’re bound by the terms and conditions of your lease.However, the “yes” part of the answer is: Talk to your landlord. Explain the situation. While landlords don’t like tenants who try to rip them off, many landlords are sympathetic to real-world situations. And, just as important, if a landlord realizes that it’ll be impossible to collect rent from a tenant, the landlord would rather remove the old non-paying tenant and find a new one with the ability as well as the willingness to pay. It makes economic sense to do so. Depending on what state you’re in, it could take months or even a year or more for the landlord to evict you. No landlord wants a non-revenue producing unit for a year or more.There’s no guarantee it’ll work, but propose to the landlord that you’ll be out of there in 30 days. You and the landlord can negotiate about the fate of the security deposit.
Who has to pay remaining rent if one partner in a lease agreement decides to move out?
Who has to pay remaining rent if one partner in a lease agreement decides to move out?If your name is on the lease, you are responsible for paying the rent. Co-tenants are multiple people who have signed a lease, such as a husband and wife. An “also occupies the premises” person (usually children) has no financial responsibility for paying the rent.When there are co-tenants, they are equally responsible for the full amount of the rent. Any agreement the co-tenants have among themselves as far as who pays how much of the rent is irrelevant. The full amount is due to the landlord on the due date. If one doesn't pay, the other must or both will be evicted. Period.If the landlord has to evict co-tenants, then ALL the tenants are evicted. Rhat means all are named on the court documents, and the eviction goes on all their records.
Is it possible to get out of a Residential Lease that I signed 4 months ago for a one year agreement?
I am a landlord and also a licensed broker. Aside from simply trying to negotiate with the landlord to break your lease early, there's nothing you can legally do to break it and not be on the hook for the remainder of the lease term. HOWEVER, if you abandon the premises, the landlord has a legal obligation to make his/her "best effort" to re-rent the property out. If the landlord finds a new tenant, then you are off the hook from that point on. Any months during the lease where rent was not paid and the landlord didn't have a new tenant in place, you'll be on the hook for. If you choose not to pay those amounts, the landlord can pursue civil action against you to recover them.Whether your landlord will actually follow the law and make a reasonable effort to re-rent the property out really is determined by whether you were paying above/below market rate for the place, and/or how easy it will be for the landlord to come after you to recover that money.The one thing the landlord can not legally do is collect double rents (i.e from you and a new tenant).
How can I break my Pennsylvania home lease agreement without penalty? I got a new job in another state and have to move out immediately.
I’m going to make the assumption that you have read your lease agreement and that it states clearly that there is a penalty for breaking it. So, rather than hiring a lawyer in Pennsylvania who might be able to help you for a fee, you get on Quora in the hopes that some schmuck with some knowledge of Pennsylvania real estate law will help you out for nothing. How am I doing so far?
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