Legal Question in Real Estate Law in New York

Initials versus signature

We have a signed business lease that is ending in a few months. The landlord

offered a written proposal for a 7 year term extension. He initialled (with us)

all of the relevent clauses and changes on this proposal and sent it to his

lawyer for a final draft. We received the final draft back from his lawyer,

signed it and returned it for the landlord's signature. He now refuses to sign

the document and wants to change the agreement considerably to add

unfavorable terms. We believe that we already have a valid agreement. Do his

original initials on the proposal carry the same weight as a signature?


Asked on 4/20/06, 11:23 am

3 Answers from Attorneys
Seth Kaufman Kaufman PLLC

Re: Initials versus signature

I disagree with the answers given by the other attorneys. Depending on the language of the document initialed by the landlord, and the circumstances under which he initialed the terms and returned the draft/proposal to you, there could be a binding written agreement. You need to have an experienced attorney review all of the relevant materials as soon as possible.

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Answered on 4/23/06, 1:06 pm
Michael Markowitz Michael A. Markowitz, PC

Re: Initials versus signature

No. Your signature only on a lease for a term in excess of one year is not a binding contract.

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Answered on 4/20/06, 2:38 pm
Robert R. Groezinger GroezingerLaw P.C.

Re: Initials versus signature

No.

Good Luck

RRG

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Answered on 4/20/06, 4:09 pm


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