Is it OK to lease the property in only one person's name when they are partners? 7 Answers as of August 14, 2013

We showed our farmland to a man and he took a copy of the lease to look over. He called later to say he would lease it but he thought he'd better tell me he had a partner. They own the cattle together. He said the partner works in another town and is not always available, that I could just put the lease in his name. I got excellent references on these two men. He did say if you need to put the lease in both names go ahead. If I shouldn't, what are the reasons why?

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Law Offices of Frances Headley | Frances Headley
If these men are partners you need to ask yourself why would they not want the lease to be in both names. While you can do so, why would you want to have just one person responsible for the lease. The explanation does not make sense and raises red flags.
Answer Applies to: California
Replied: 8/14/2013
James T. Weiner & Associates, P.C.
James T. Weiner & Associates, P.C. | James T. Weiner
Get the lease in both men's names so that if one does not pay the other is also liable.
Answer Applies to: Michigan
Replied: 8/14/2013
Victor Varga | Victor Varga
You should, it's another source of recovery if they don't pay.
Answer Applies to: Maryland
Replied: 8/14/2013
The Krone Law Firm, LLC | Norman B. Krone
Put the Lease in the name of the partnership. If they are general partners, either can sign and both as well as the business become liable.
Answer Applies to: Florida
Replied: 8/14/2013
Gateway Legal Group | Christian J. Albut
That would be a judgment call. It is always best to place both people on the lease so that two people will be responsible for payments of any monies that come due. However, you can also have one person on the lease as well. The only time an issue would come up is if there is a default and you had to seek payment for any type of rent or damages. It is always suggested that you place all parties on the lease.
Answer Applies to: California
Replied: 8/14/2013
    Durham Jones & Pinegar | Erven Nelson
    If the Lease is signed by both partners, they are both responsible to make the payments and are both entitled to the protections of the Lease. If your main concern is getting paid, have both of them sign the lease.
    Answer Applies to: Nevada
    Replied: 8/14/2013
    Musilli Brennan Associates PLLC
    Musilli Brennan Associates PLLC | John F Brennan
    Seek counsel, have the lease reviewed and discuss if both persons should be on it and liable.
    Answer Applies to: Michigan
    Replied: 8/14/2013
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