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about 5 years ago
I have a house in Green Bay WI, I have a lease with option to buy with a couple. They both signed the lease 4 years ago. I recently found out that they divorced and she moved out. Since the lease was signed with both of them. Does this make the lease Null and void, since she moved to a different city and no longer lives there?
about 5 years ago
This is just my educated opinion, but it does not make the lease null and void. As a rent-to-own situation, you essentially are the "bank." It is just like when other people divorce, and they have a mortgage. Usually, in court, some sort of property division is accomplished, in this case, "who gets the house." If in your lease, you have some sort of "Joint and Several Liability" clause, then they are still both liable for the property under the terms of the lease until the lease agreement is updated with the name of whoever stayed behind. Hopefully, "who gets the house" was addressed in their legal paperwork under the court-ordered divorce. Perhaps you could discuss this with the tenant and ask for a copy of the court order, and then update the lease agreement according to the court paperwork. Also, perhaps speaking with an attorney might prove helpful.
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