In this article, we’re going to discuss how to handle rental leases during a divorce. An issue that often comes up during divorce cases is how to handle a rental lease. The marital home is where the family resides, whether owned or rented, during the marriage. If you and your spouse are on a rental lease while going through a divorce, knowing how to handle the future of the lease can be a tricky problem to solve for many people.
Do you want to keep the lease?
If you’d like to stay in the home and keep the rental lease in your name, it may be in your best interest to wait out the divorce and simply renew the lease in your name only once it has expired. If both parties want to stay and keep the lease but no longer can live together, a court may determine who will have exclusive use and possession of the rental property in the interim of the divorce.
Do you want to forego the lease?
If neither party wants to keep the rental lease, and there is still a significant period of time left on the lease, you will need to discuss your options with your landlord. There are limited circumstances in which a landlord may agree to cancel a lease, or they may be willing to discuss another individual taking over your lease.
Do Both Parties Wish To Remain On The Lease?
If both parties agree to remain on the rental lease and remain living there together while the divorce is pending, be sure that you have agreements in place, preferably in writing, as to who will continue paying for it or how payment of the ongoing monthly rent and other associated obligations will be divided and paid to avoid any late payments or problems later on.
If you’re going through a divorce, your situation is likely unique with circumstances that may affect how you’ll handle your rental lease. Seeking legal advice from an attorney is the best way to ensure your finances are protected and that you’re managing your finances in a way that is beneficial to the outcome of your divorce matter.
To learn more about how to handle your lease agreements during a divorce, contact the attorneys at OWENS & PERKINS by calling our office at 480.630.2464 to schedule your FREE 30-minute legal consultation.
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