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.
Lease Extension Agreement Pdf Forms
State:
North Carolina
Control #:
NC-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.
How to fill out North Carolina Residential Or Rental Lease Extension Agreement?
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FAQ
Prepare the draft in word format.Buy Rs.100 e-stamp paper from your nearest co-operative bank, court or register office.Print the draft on e-stamp paper.Meet the notary public near you with supporting documents. Landlord, tenant, and witnesses have to sign the agreement.Notary public attests and signs the agreement.
The letter should include:Your name, current address and contact information.Date the lease extension request is submitted.Length of the lease extension, including the proposed end date.Reasons for extension.Date by which you need a decision, usually 10 days to two weeks.
If you want to extend the lease on a leasehold property, you will need to come to an agreement with the freeholder about this. You will need a solicitor to handle the legal process for you and help you negotiate the price, if needed.
Enforcing your statutory right to a lease extension can take longer and may cost you a little more in legal fees, but if you are eligible under the Act, your landlord cannot legally refuse you an extension.
A lease extension is a signed agreement that extends the terms of your current lease, whereas a lease renewal enters you into a new agreement with potentially new terms.
