Renter’s Advice and Resources
Uncoding Your Lease’s Legal Jargon
· May 31, 2006
Unless you’re a real estate lawyer, a landlord, or you just like reading over lease documents, the legal terminology in your lease might not be used in your everyday vocabulary. Terms such as buyout clause, sublease, and termination could help you break your lease, if you know how to use the legal jargon to your advantage. Here are a few general terms to help you through your lease.
Myth: Only people who rent a house need renters insurance.
Reality: FALSE. According to the Bureau of Insurance, “Renters insurance is for anyone who rents an apartment, condo or house, instead of owning the premises.” Renters insurance provides protection for your personal property from perils such as fire or theft, and liability protection if you accidentally hurt someone or damage their property.
· Oct 24, 2005