Is Purchasing a Home Grounds for Terminating a Lease Agreement
Full Question:
My roommate and I signed a one year lease. We have gone through 5 months so far and I have been in the market for a new house. I have found a new house and expect to close on it by the end of December. I have heard that if you buy a house you are legally able to break the lease without penalty providing you give a 30 day notice. Is this correct? And is my roommate liable for the rest of the lease or can he exit the lease at the same time?
12/07/2007 |
Category: Landlord Ten... ยป Lease Termin... |
State: Michigan |
#13548
Answer:
The following is a MI statute:
554.601a Termination of lease; conditions; applicability of
section to leases entered into, renewed, or renegotiated after
effective date.
Sec. 1a.
(1) A rental agreement shall provide that a tenant who
has occupied a rental unit for more than 13 months may terminate a
lease by a 60-day written notice to the landlord if 1 of the
following occurs:
(a) The tenant becomes eligible during the lease term to take
possession of a subsidized rental unit in senior citizen housing and
provides the landlord with written proof of that eligibility.
(b) The tenant becomes incapable during the lease term of living
independently, as certified by a physician in a notarized
statement.
(2) This section applies only to leases entered into, renewed, or
renegotiated after the effective date of this section, in
accordance with the constitutional prohibition against impairment
of contracts provided by section 10 of article I of the state
constitution of 1963.
History: Add. 1995, Act 79, Imd. Eff. June 15, 1995.
