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1 or 2 yr Lease?

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1 or 2 yr Lease?

Postby BlondieYV » Sat Jul 27, 2002 11:37 pm

Is a verbal agreement to extend to a 2 Yr lease valid? Two roommates and I signed a one year lease beginning Sept 2001. Since the OverTenant lives in Hong Kong, the three roommates and the guarantor each signed the lease at the brokers' office, we received a copy at the time of signing, and the original lease was supposedly mailed to the Overtenant for appropriate signature. Shortly after 9/11, the Broker called saying that the lease should have been a 2 yr lease and requested permission to extend it. One roommate, whose father was the guarantor, agreed to the extension and informed the rest of us of her action. We never signed or initialed the change. The broker made appropriate changes to the lease, changing the dates but still keeping our original signatures, sent the copy to the OverTenant for signature and sent us a copy of the fully executed lease. Is it a 2 year lease because it's the only fully executed copy we have? Or a 1 year because the 2 year was a verbal agreement and no signing confirmed the extension?
BlondieYV
 
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