- The safest way to get out of a lease agreement is to work with the lessor (the person who is leasing you the item or land) and to ask them to release you from the agreement. This is called a novation. Essentially, you and the lessor are entering into a new contract whereby you both agree to abandon the old contract (the lease agreement). If you can agree to this, you will not be liable for damages resulting from an early break on your lease. Further, with the new contract in place, you can seek to enforce it in the event that the lessor tries to go back on his word and hold you to the old lease. Work with the lessor and seek a novation.
- In a sublease agreement, you find someone else to take over your responsibilities under the lease. Typically, you can sublease any agreement. You will need to check the language of your contract, however, because the lessor might require written consent to transfer or sublease the agreement. If that is the case, seek written consent first prior to subleasing the agreement. The lessor cannot unreasonably deny you consent. Therefore, if you find someone willing and able to take over the lease, you should be able to get your lessor's consent. Remember, however, that you will still be liable if the person who subleases your agreement defaults on the terms. The only way you will not be liable is if you get a novation.
- This is not the most desirable way to get out of a lease, but the lease agreement is a contract and you technically have the right to breach the agreement by simply abandoning the lease. There are consequences to this option, however. You may be held to the entire term of the lease, meaning you may still have to pay what you would have owed had you stayed with the lease. It will all depend on what the lessor chooses to do. The lessor could simply allow you to break the lease and you may never hear from it again. Regardless, this is an extremely risky option and should not be undertaken lightly. Seeking a release and/or getting a sublessee are the better options.
