questions & answers
Question: Is it legal in Arizona to break a lease because I am buying a home? If so what forms do I need to submit to the property management company?
The following is provided for general information only. To find out how the law applies to a specific situation, contact an attorney directly. Rental agreements and leases are largely characterized as contracts between the landlord and the tenant. Generally, a landlord and the tenant are free to agree on the terms of a lease, so long as none of the lease provisions violate the law. (ARS 33-1314) You should carefully review your lease to determine which circumstances or provisions allow you to terminate the lease early. Depending on the terms of your lease, you may wish to notify the landlord immediately, in writing, that you have the opportunity to purchase a home and are unable to complete the lease rental agreement. However, you should be aware that there may be costs associated with early terminaton. As per ARS 33-1368 (C), the landlord is entitled to recover the “reasonable damages” resulting from non-compliance with the rental agreement. You should also be aware that many rental agreements include a provision that a security deposit may be forfeited if the renter does not comply with the terms of the rental agreement. ARS 33-1321(D) provides that within fourteen (14) days of the termination of the tenancy, and upon demand by the tenant, the landlord shall provide the tenant with an itemization of deductions from the security deposit. It is a good idea to send a written request to the landlord for an itemization for any deductions from the security deposit if it is not forfeited per the terms of the lease agreement.
Is it legal in Arizona to break a lease because I am buying a home? If so what forms do I need to submit to the property management company?
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