Tuesday, May 25, 2010

I signed a lease with my sister to help her with poor credit. I now need to get off the lease.live in PA..

I co-signed a lease with my sister to help her get an apartment because her credit is not so good. I do not live there, I have my own apartment in another town, and have a lease there. However, I no longer want my name on my sister's lease. Is there any way to get off of the lease without paying the remainer of the one year (it was signed one month ago, with 11 months remaining). Since my sister will still be living in the apartment and paying rent, how can I be sued for the remainder of the rent if she is paying it, since there are no actual "damages". Would an attorney be able to help me? Thank you.
Answers:
I'm in Pa also and I think you are pretty much stuck until the lease expires. You signed a legal contract for one year. If your sister doesn't pay the rent,they want someone else they can get it from.
If she rents from a private landlord,maybe you can talk them into it after she proves she is trust worthy,but if she rents from a complex,you can pretty much forget about it.
I did the exact same thing - co-sign. There are a few remedies you can try:

You can go to the owners and ask to be taken off. Probably after 90-120 days they may agree.

Yes, you can be sued. You do NOT need an attorney. You can contact your local housing authority and discuss with them.

Why can't you give your sister the benefit of the doubt. She may surprise her. Family is all we got - good, bad or indifferent....give her a chance.
Think that you are committed to it now until the lease expires. If she misses a month of rent, they will attempt to collect the money from you.
sorry your in for the term of the lease unless there is a buy out contract our the owners agree to take you off. Good luck
Whatever this "Housing Authority" is they can't interfer with a valid contract.

The only way to get off the lease is if the manager allows you to relinquish the lease in favor of your sister. I doubt that will happen since of her credit and especially this soon.

If she keeps up the payments and stays for 1/2 the lease you will be in a more powerful position to negotiate.

And an attorney won't deal with this either unless the lease itself is voidable. Have about $2,500 to find out?

No comments:

Post a Comment

Blog Archive

vc .net