Is a contract valid if no money changes hands?

In order for contracts to be valid, there must be what is considered “consideration.” Consideration need not be money exchanging hands, but rather can be legal detriment (burden/obligation).

Should a lease be signed as a deed?

Under section 52 of the Law of Property Act 1925 all conveyances of legal title (which is what a tenancy or lease is) must be by deed unless they are a lease or tenancy not required by law to be in writing.

Does a lease signature need to be witnessed?

The short answer is No – a witness does not need to sign Most agreements do not even need to be signed by the parties entering into the agreement. Most agreements do not even need to be in writing.

Can a lease be valid if no money is exchanged?

Consideration need not be money exchanging hands, but rather can be legal detriment (burden/obligation). In this case, it appears the lease was a valid contract when it was signed.

When does a lease need to be signed?

In this case, it appears the lease was a valid contract when it was signed. The tenant would be obligated to pay the rent amount from the move in date until the date when the landlord was able to “cover” by getting another tenant in that unit in their place.

Can a contract be signed but no money exchanged?

The contract stipulated that a security deposit, move-in fee, and pro-rated rent was due at execution. An attempt at payment was made but never completed (check was written then blocked by tenant). Landlord left apartment unrented from the 7th-15th in anticipation of tenant.

Consideration need not be money exchanging hands, but rather can be legal detriment (burden/obligation). In this case, it appears the lease was a valid contract when it was signed.

In this case, it appears the lease was a valid contract when it was signed. The tenant would be obligated to pay the rent amount from the move in date until the date when the landlord was able to “cover” by getting another tenant in that unit in their place.

The contract stipulated that a security deposit, move-in fee, and pro-rated rent was due at execution. An attempt at payment was made but never completed (check was written then blocked by tenant). Landlord left apartment unrented from the 7th-15th in anticipation of tenant.