Legal Question in Real Estate Law in Wisconsin

Re: Breaking a lease

If your landlord is unsuccessful in re-renting the premises, you will be held responsible for the balance of the lease. If the LL is forced to file suit in court to collect those sums, then that would go on your credit report, but merely breaking the lease, but paying the full amount should not appear on your credit report. In any event, lenders understand that apartment leases fall victim to first time home buyers. One other option is to close on the purchase of the home, but not move in until after the holidays, but that would need the cooperation from the seller.

Re: Breaking a lease

Presuming your lease is valid, you expose yourself

to pay for the rent for the balance of the lease

period, ending March 31. Your landlord has an

obligation to "mitigate" damages, which means he

has to try to rerent the place. If you refuse to

pay, your landlord may seek a judgment against you.

This judgment can be docketed and becomes a lien

against any real estate you may own, including your

new home. If you continue not to pay, your landlord

may foreclose the judgment and have your property sold

to assure he collects.