Mark Required Fields In Legal Washington Commercial Leases Forms For Free

Essential Elements of a Lease Date of the instrument: The date in which the lease is executed and not necessarily the date of its commencement. Identity of the parties: The full names of the lessor and the lessee. Capacity to contract: The lessor and the lessee must have legal capacity to enter into a contract.

The amount and due date for rent should be explicitly stated along with how many days may pass before rent is officially late and if the tenant is subject to a late fee. As for the security deposit, a good contract specifies what constitutes damage that would cause forfeiture of all or part of the deposit.

Per RCW § 59.04. 010, if the lease is longer than one year, the execution of the lease must be acknowledged (i.e. notarized). If a lease is longer than one year and it is not acknowledged, then it may be interpreted to be only a month to month lease, not a one-year lease.

California's Statute of Frauds requires a lease to be in writing if it either: 1. has a term longer than one year; or 2. has a term less than one year which expires more than one year after the agreement is reached. actually be maintained for thirteen months.

Microsoft Word's Free Lease Agreement Template is a wonderful template for creating a legally binding contract and setting ground rules between the landlord and the tenant.

1 A lease is an estate in land. 2 It must be for a fixed and definite duration, although periodic tenancies and leases liable to premature defeasance are within the definition. 3 An essential characteristic of a lease is that the tenant has exclusive possession, and may exclude everyone, even the landlord.