Legal Question in Real Estate Law in California
want to back out from a signed lease of one year
Recently I signed a lease with a newly built apartment complex for one year agreement, I haven't move into the premise yet and I want to break the lease, is there any legal remedy against me? Can I recover the my security deposit? Thanks.
2 Answers from Attorneys
Re: want to back out from a signed lease of one year
I would say that you won't have much luck, unless you can find someone to take your place.
Re: want to back out from a signed lease of one year
Yes, there is a 'remedy' against you -- breach of contract. You stand not only to lose your deposit but in theory you are liable for rent for the entire year. As a practical matter, the landlord would only recover the loss he would incur upon diligently pursuing a substitute renter. If the market is strong, your exposure is accordingly low, but if the landlord has to wait several months and then has to accept a lower monthly rental rate because the market has weakened, your liability could be substantial.
The best route is to find a qualified substitute tenant yourself to make sure the place is occupied and you are off the hook. You should discuss the situation with the landlord unless you are judgment-proof.
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