What is the name of your state (only U.S. law)? NJ
I found a previous post concerning "holdover by lessee" but my situation is slightly different so I am posting a new thread with the same title.
I live in NJ; have been living in the same place for 11 months. The original lease started July 3, 2011 and will end July 1, 2012. The lease has a clause of holdover by lessee, which states "should lessee remain in possession of the demised premises with the consent of lessor after the natural expiration of this lease, a new month-to-month tenancy shall be created between lessor and lessee, which shall be subject to all the terms and conditions hereof but shall be terminated on 60 days' written notice served by either lessor or lessee on the other party".
Now the landlord asked me to sign a "new lease" - on which the start date will be July 1, 2012 and ends June 20, 2013. The "new lease" has the same clause of holdover by lessee. Given my personal situation, I may have to terminate the lease before June 20, 2013. I discussed it with the landlord and she said she still wants me to sign a year lease but would be reasonable if I need to move out sooner. As the "new lease" has a "new" start date on it, would the previous lease allow me to give the landlord a 60 days in advance notice without penalty or would I be bound by the "new lease" and should I decide to terminate it prematurely, I would be subject to penalty and paying the remainder of the lease term?
Any help? Thanks a lot.
I found a previous post concerning "holdover by lessee" but my situation is slightly different so I am posting a new thread with the same title.
I live in NJ; have been living in the same place for 11 months. The original lease started July 3, 2011 and will end July 1, 2012. The lease has a clause of holdover by lessee, which states "should lessee remain in possession of the demised premises with the consent of lessor after the natural expiration of this lease, a new month-to-month tenancy shall be created between lessor and lessee, which shall be subject to all the terms and conditions hereof but shall be terminated on 60 days' written notice served by either lessor or lessee on the other party".
Now the landlord asked me to sign a "new lease" - on which the start date will be July 1, 2012 and ends June 20, 2013. The "new lease" has the same clause of holdover by lessee. Given my personal situation, I may have to terminate the lease before June 20, 2013. I discussed it with the landlord and she said she still wants me to sign a year lease but would be reasonable if I need to move out sooner. As the "new lease" has a "new" start date on it, would the previous lease allow me to give the landlord a 60 days in advance notice without penalty or would I be bound by the "new lease" and should I decide to terminate it prematurely, I would be subject to penalty and paying the remainder of the lease term?
Any help? Thanks a lot.