Signed Lease but no deposit - is it binding?

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nycgrrl10
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Signed Lease but no deposit - is it binding?

Post by nycgrrl10 » Wed, 09 Jun 2010 2:52 pm

I have signed a lease for a flatshare and I am wondering if the lease is binding (legally) if I have not yet paid the deposit.

Thanks!

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Saint
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Post by Saint » Wed, 09 Jun 2010 3:19 pm

Tough one to say definitely but there is a cooling off period after TA is signed for both parties, normally 7 days. Also, not until the Stamp Duty has been paid and the TA stamped by the IRAS can the TA be considered a valid contract as evidence in court for any disputes.

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Post by nycgrrl10 » Wed, 09 Jun 2010 3:32 pm

Thanks!

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Re: Signed Lease but no deposit - is it binding?

Post by Mad Scientist » Wed, 09 Jun 2010 5:28 pm

nycgrrl10 wrote:I have signed a lease for a flatshare and I am wondering if the lease is binding (legally) if I have not yet paid the deposit.

Thanks!
NYC, you posted another thread on the flatshare at the Sail and now you are wondering if the lease is binding.

Are you talking about the same place and the agent is Connie Seah ?

Many have advise you , I would err to the side of caution, before you do any signing or any transferring of money by wire.
Yes , it is hard to find something you really like but it will be harder to resolve if everything went to custard.
Step back and get those things that were recommended to you, checked and confirmed. Then you are set to go.
There are many rogue agents in this industry. Just be more wary of it.
The positive thinker sees the invisible, feels the intangible, and achieves the impossible.Yahoo !!!

nycgrrl10
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Post by nycgrrl10 » Wed, 09 Jun 2010 6:25 pm

Thanks - yes, I signed the lease yesterday before I posted my questions about the deposit, etc. so I'm wondering if I'm liable for the deposit since I signed the lease (and thanks as well for your thoughts on my other questions.)

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Post by Mad Scientist » Wed, 09 Jun 2010 6:30 pm

Yes, the TA is binding.

No worries as I was just concern and the one I hate and upset the most is vulnerable people taken for a ride by these cowboys
The positive thinker sees the invisible, feels the intangible, and achieves the impossible.Yahoo !!!

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