How To Get Out Of My Lease Contract?

[llothar]

I'm sure this is good entertainment for the "we told you" guys, but it's getting serious for me and my girl friend.

We have a lease contract for a restaurant which is valid for two more years. But it seems that the restaurant was

be a huge failure for different reasons.

Is there any legal method to get out of the contract earlier, because the payment is hitting us hard, lets say

we can't pay anymore it the economy here up in the north is not getting better soon (within the next two month)

and don't believe in this anymore.

[Mid]

lawyer not internet forum ...............................

[think_too_mut]

lawyer not internet forum ...............................

Well, that's an advice from the forum, I second it.

[Wolfie]

lawyer not internet forum ...............................

Well, that's an advice from the forum, I second it.

If its reached that point then i agree.

[keestha]

Just to make sure......did you tell the owner you want to stop? If he agrees, the contract can be terminated any moment. If he refuses to cut you loose, yes, than you should seek the advice of a lawyer.

[keestha]

Forgot to mention that a lease contract for more than 3 years has to be registered with the land office in order to be valid, it also has to be written at the landpaper.

[Farma]

I agree with talking to the owner first. I’ve seen similar situations where Thais have been able to get out of leases early with minimal or no penalties. It depended on whether the rent had been paid up front for the term of the lease or was being paid monthly/quarterly.

Having a lawyer contact the owner first might cause un-necessary ill feeling from the owner.

[blizzard]

why dont you just disappear.

give us the details. your rent and yr gross incum. some fools could learn a thing or 2. what kind of restaurant. who put up the money to start the business. whos idea was it in the first place.

[ProThaiExpat]

If there were any misrepresentations when you leased the restaurant, that might be grounds for termination.

[blizzard]

only misrepresentation is guy thought he gonna make money!

[fletchsmile]

I'm sure this is good entertainment for the "we told you" guys, but it's getting serious for me and my girl friend.

We have a lease contract for a restaurant which is valid for two more years. But it seems that the restaurant was

be a huge failure for different reasons.

Is there any legal method to get out of the contract earlier, because the payment is hitting us hard, lets say

we can't pay anymore it the economy here up in the north is not getting better soon (within the next two month)

and don't believe in this anymore.

Isn't there an early termination clause in your lease? That would explain what happens if one person wants or has to terminate. In many contracts of many natures there is an early termination clause or two. eg for lease of property/accommodation how much notice you give, eg for early payment of a loan, what the penalty is. All the property leases I have ever signed personally have had one. Another example: For foreigners in Thailand there is often one that covers if you have to leave Thailand thru job relocation. Then there's want happens for act of god, war etc.

Think you really need to check/reread your lease and give more info what is in there. That's the staring point.

Don't want to fall into the "told you so" brigade, but any contract or lease I'd take out whether I'm lessor or lessee would hav an early termination clause, explaining what would happen. I'd then negotiate to make sure it's fair or walk away before I signed. If you don't have this time, it's a mistake, to learn from next time.

Edited August 18, 2007 by fletchthai68

[JonnieB]

agree with all of the above, check the lease for escape/early termination clauses; check if lease (if longer than 3 years) was registered with land office and duty paid; and talk to owner to see if will let you out early for minimal payment.

others wise, if all else fails, just skip out and move to new area of Thailand. not likely he will expend the time, energy, and expense to track you down and bring legal action against you. i assume you're talking about a relatively small amount of money. if that fails, just return home to farangland.

[sleepyjohn]

Have you thought about honouring the contract you entered?

Edited August 20, 2007 by sleepyjohn

[lannarebirth]

Have you thought about honouring the contract you entered?

Yes, that would have been my first response as well. Barring that, were it me, i'd have a talk with the leaseholder.

Did you pay key money when you initiated the lease? Often times in leases wherekey money was paid, landlords are only too happy to see you move on, as the longer you stay the less their monthly ROI. He may be anxious to start a new lease with new key money with someone else. I would not encourage you to do anything unethical.

[blizzard]

try selling it.

seems a lot here like businesses that dont make money......lol.