My roommate and I signed a lease agreement (both names are on the lease as "residents") and both have signed and initialed Agreement. One of...

Question

My roommate and I signed a lease agreement (both names are on the lease as "residents") and both have signed and initialed Agreement. One of us wants to exercise early termination which means a $2000 fee. Are both of us liable to pay the $2000 fee (split 50/50) or just the roommate that wants to leave?

Answer

Yes you would both be responsible for the fee. But the non-defaulting party as in the person who wants to stay may be entitled to a refund of $1000 from the defaulting party.