Saturday, February 19, 2011

Using the Correct Names on Leases

When preparing a lease, or any legal document, always make sure to use the full and correct names of all the parties involved. Failing to do so can create problems down the road for the parties. For example, if Acme Inc. was going to be the tenant under a new lease, and Acme Inc. is a Delaware corporation, then the lease should read, Acme Inc., A Delaware Corporation. Acme or Acme Corp. is not satisfactory. If the tenant were an individual with the name John Jones, then the lease should read, John Jones, Individual. Also, the signature blocks should match the name filled in as the tenant and it is critical that all parties sign the lease on each of the blanks provided on the signature block.
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