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want to terminate a lease just signed

WE thought we found the right person, signed the lease and took check, but check not deposited and they have no keys we do not want to rent to these people  can we ripe up the lease without leagle issues arrising

Why do you have a change of mind?
Is the   Lease Agreement currently signed ONLY by the tenant or did you as Landlord also "counter sign" the lease?  In which case if both signed, and you accepted the check (even though not deposited), then it appears that you have fulfilled all the legal requirements to create a valid and legally binding contract (via the Lease Agreement).  I am not an attorney, but you should consult one to verify what i am saying which is if you complete and fulfill the following, then you have a valid and legally binding contract:  - identify the parties involved - written terms and conditions - document signed by both parties - exchange of monies in consideration (check acceptance)  There may be a "cooling off period" in your state whereby either party can back out of or cancel a contract say within 72 hours.  Otherwise, it may be that the only way to terminate is toi get them to agree to terminate and sign something stating this.  Best of luck,  Joe the Landlord        
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