What is the name of your state? Hello everyone, I am a new member and am seeking advice on how to address this problem. I have a single house that is being leased to 5 joint tenants. During the third month of the lease, two tenants wanted to move out because of the differences. How do I handle in this situation?
Your response is greatly appreciated.
Joint and several liability explained. (maybe)
Unless the signed instrument expressly states otherwise, each individual that have signed as lessee are "j
ointly and severally" responsible for the performance of each and every covenant and obligation incumbent upon them to be kept and performed.
Meaning, as the lessor you can seek performance from one, all or any number. But not so in the absence of the modifier "
several".
That is to say, if the agreement listing the names of the lessees were to specifically state that that they are to be held
"jointly liable" rather than
"jointly and severally liable". one or more
might reasonably argue that their individual liability is proportionate of the whole and not total.
Nevertheless, and again, it is my understanding that where there are multiple obligors listed without mention of any variation in their individual responsibility it is presumed to be
joint and several. (Others may differ)
WARNING!
Beware that if you were to release any named lessee from their obligations under the lease (and without the clear understanding of the legal consequence and written consent of the remaining lessees THEN by operation of law (suretyship) you would thereby release all of the named lessees!
The reason for that rule of law is because otherwise you would directly and adversely affect the remaining obligor's rights of contribution from those purportedly released of any further obligation.