A Brief Introduction About the Texas Lease Agreement
A Texas Lease Agreement is a legal document that is created between a property owner and a tenant, both of whom are located in the state of Texas, which falls under the jurisdiction of the United States of America. The Texas Lease Agreement gets its name in accordance with the fact that the contents of this lease agreement match with the rules, regulations along with terms and conditions as set forth by the state legislature at Texas while being in accordance with those set by the Federal government.
Who Takes the Texas Lease Agreement? – People Involved
In the creation of a Texas Lease Agreement, there are usually two parties involved. The first part being the landowner or the landlord, who is the legal owner of the property or real estate located within the boundaries of Texas. The second party, in this case, is the tenant, who is eager to rent out the property in context. In legal terminology, the first party is referred to as the landowner, the second party as the tenant, and the legal document simply as the Lease Agreement.
In order for this contract to become legally valid, both parties need to provide certain disclosures to each other, the details of which are usually mentioned at the end of the agreement. Only after agreeing to the disclosures can both the parties sign the agreement, thus making it a legally binding agreement.
Purpose of the Texas Lease Agreement – Why Do You Need It?
The main purpose of this agreement is to establish a legal understanding between both parties and to make sure that the interests of the individual parties, along with the collective, are protected at all points in time.
Contents of the Texas Lease Agreement – Inclusions
Involved Parties: In this legal agreement, there are usually two parties involved; the first being the landowner or landlord who owns a property or real estate in the state of Texas, and the second party being the tenant who is leasing out the property or real estate from the landlord for a mutually decided period of time. In legal terminology, the first party is referred to as the landlord, and the second party is referred to as the tenant.
Effective Date: This section of the agreement outlines the date from which this contract will stand legally binding and also the date on which the same can be dissolved.
Application: This contract constitutionally is applicable within the boundaries of the state, city, or county where it was originally drawn at.
How to Draft the Texas Lease Agreement
This agreement can be drafted by simply following the steps mentioned below.
Organize a meeting both the parties and discuss upon the terms and conditions of the agreement, such as the tenure for which the said property or real estate will be leased out, the number of funds that will be paid in exchange for the property being leased, along with rules and regulations that need to be followed by both the parties, among other finer details.
Once the primary and secondary parties have agreed to all the conditions, reach to the lawyer, and ask him to draw up an agreement according to the specifications discussed.
Both parties need to sign the contract and register in the house of law as recommended by the lawyer.
While negotiating the formation of this lease agreement, it must be taken care that the individual interests of both parties must be addressed along with the collective cause.
Benefits & Drawbacks of the Texas Lease Agreement
The contract clearly states all the responsibilities and limitations which ensure the people involved are well informed all the time.
This is document acts as legal proof and thus can be produced in court if there is a need in the future.
In the absence of a Texas Lease Agreement, neither of the parties have legal proof of an understanding taking place between two entities, and thus if the matter is ever brought to court, both parties stand to lose.
[ Also Read: Lease Modification Agreement ]
What Happens In Case of Violation?
In the case of violation of this agreement, certain remedies come into effect, and in a few cases, the contract is dissolved, and a new set of terms and conditions are agreed upon.
While cases of a violation in this agreement can be settled in court, it is always advisable that the same be resolved with talks between the two parties, because as mentioned in an earlier paragraph, the foundation of this agreement lies in good faith.
Sample Texas Lease Agreement
A sample of the Texas Lease Agreement can be downloaded from below.
Download this USA Attorney made Original Agreement for only $9.99