A lease extension is used to extend the terms of a previous lease between the landlord and tenant. By signing the extension, it is not necessary for the parties to execute a new lease. Generally, all terms of the previous lease are carried over by reference in the extension. Usually, the extension simply extends the term of the prior lease and may contain provisions for a revised rent payment.
Albuquerque New Mexico Residential or Rental Lease Extension Agreement
State:
New Mexico
City:
Albuquerque
Control #:
NM-826LT
Format:
Word;
Rich Text
Instant download
Description
Agreement to extend the term of a residential lease, with possible modifications. Landlord and Tenant extend and continue the term and duration of the described Lease Agreement. Lessee(s) will continue to be joint and severally liable.
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FAQ
Month-to-month agreements required 30 days' notice of termination from either the landlord or tenant. For week-to-week agreements, the landlord or tenant must give the other party 7 days' notice of termination.
Like any other legal document, a written tenancy agreement becomes a legally binding contract between the two parties as soon as you have both signed it. As a landlord, your signature represents your legal agreement to uphold all of the duties outlined in the document.
Every New Mexico tenant has the legal right to seek proper and fair housing without any kind of discrimination against them. The New Mexico landlord-tenant law also allows them to request required repairs for the unit (If it needs them).
Does Microsoft Word have a lease agreement template? Yes, Microsoft Word has a free lease agreement template that you can customize to create your own contract and minimize any potential problems between tenant and landlord.
A deed is simply a document which is executed rather than just signed. The law requires some documents to be by deed ? for example, transfers of land or leases which are for more than 7 years. If they aren't executed as a deed then they won't be fully legally binding.
(N.M. Stat. Ann. § 47-8-33(A) (2021).) Three-Day Unconditional Quit Notice: When a tenant has committed a substantial violation (such as hurting another person at the rental unit property), the landlord can give the tenant a three-day unconditional quit notice.
Over 30% of households in New Mexico live in rental properties according to Census ACS data. The state is somewhat landlord-friendly as there are no rent control laws and evictions may take less time than in other states. All US states, including New Mexico, have a statewide Landlord-Tenant law in place.
No, lease agreements do not need to be notarized in New Mexico. As long as the lease meets the criteria to be legally binding, it does not have to be notarized. The tenant and the landlord can agree to have the lease notarized if they wish, but it is not required by New Mexico state law.
New Mexico law prohibits rent control on a state or local level. Thus, landlords are allowed to charge whatever they want for rent. Rental increases. New Mexico does not limit by how much landlords can raise rent, but landlords are required to give notice commensurate to how frequently a tenant pays rent.
