Signing
Leases
Within the last few weeks I have reviewed a number of leases that have shown
a common flaw. That flaw relates to the way the lease agreement was signed.
While seemingly insignificant, not having the lease properly signed can render
it unenforceable.
Part of the confusion stems from the varying requirements imposed by state
law. Without going through a lengthy analysis of all the applicable rules,
the following is a list of DO’s and DON’T’s that should help you in your business.
DO:
- Make sure all parties to the lease sign it. This may sound
obvious, but in a rush to close a deal, people forget to check that all signature
blocks are filled in.
- Make sure the correct person is signing. Again, this may
seem perfectly obvious but incredibly, people forget. I have found corporations
signing as individuals, landlords signing as tenants, one business signing
as if it were a second business, etc. BE CAREFUL. Read your lease to make
sure all parties and their signatures match. Double check corporate signatures
to make sure you include the title of the person who has the authority to
sign, and that they are signing in their official capacity.
-
Carefully check to make sure all signatures,
especially the landlords, are acknowledged (notarized). All leases for
longer than one year must be notarized. Failure to do so leaves the lease
subject to attack.
-
Make
sure all tenants sign the lease. Trying to obtain and enforce a judgment
for back due rent becomes much more difficult if a person was arguably never
a tenant. This applies to signatures on “House Rules” types of agreements
as well. In short, don’t make enforcing your agreement tough because you
have gotten only one of two or more tenants to sign the lease.
DO
NOT:
- Use
a corporate form of acknowledgement (the notary paragraph) for an individual
and vice versa. This is a popular way to make a mistake, and in some circumstances,
can render your lease unenforceable.
- Forget
to request documentation authorizing an agent to sign for another. Check
to see if there is a Power of Attorney authorizing the signor to act on
behalf of the landlord or tenant. Also request copies of corporate resolutions,
relevant portions of partnership or trust agreements, or similar documentation.
This will help prevent the party you are trying to enforce the lease against
from saying, “Oh, that person never had authority to sign that for us,”
and thus attempt to avoid the lease.
Once
again, a little extra work at the beginning can save a lot of heartache and
expense down the road.
Published
March 1995
This
article contains information of general interest, and is not intended to be,
nor should it be relied upon as a substitute for specific legal advice.
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The
information you obtain at this site is not, nor is it intended to be,
legal advice. You should consult an attorney for individual advice regarding
your own situation.
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© 2003 by Wheeler & Associates. All rights reserved. You may reproduce
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