Before signing a lease, you should understand not only the terms contained in it but also the legal and tax effects of those terms. To fully and adequately protect your legal rights, see an attorney before you sign the lease. A lease is a contract transferring control and possession of real estate from the landlord to the tenant for a specified period of time in exchange for rent. A lease must usually be in writing and signed by the landlord and tenant if it covers a term of more than one year. Indiana, New Jersey, New Mexico, North Carolina, Ohio, and Pennsylvania.
Maine requires written leases in excess of two years.
Even when an oral lease is to be legally binding, prudent parties will put it in writing so that the landlord's and tenant's legal rights and obligations are specifically spelled out. The landlord and all tenants should sign the lease. Some states require witnesses, seals, or acknowledgments. If you record the lease, it must be acknowledged like a deed. All Rights Reserved.