I have a situation where a lease was signed for a rental property. It is the only one I own. Is there a certain time-frame that the escrow account for the security deposit must be set-up within? Also, the tenant is now trying to cancel the lease, before their actual move-in date (approx 10 days after signing) what legal recourse would I have? --68.12.xxx.xx

Not in OK, but interested to know what you mean "tenant is trying to cancel the lease" - are they offering you something (money) in return for letting them out of the lease? The lease could be cancelled only by agreement of both parties, and what is your inducement to do so? --68.158.xxx.xxx

Sorry, I didn't really provide much information. The lease was signed on Aug 6th. The lease term has not actually started yet (it is a one year lease). The term was to begin Sept 1st. Verbal notice of desire to cancel the lease was provided on Aug 13th by the tenant, written notice has not been provided. The tenant has offered nothing to compensate for the cancellation of the lease. They seem to think they are not legally bound to it. They have actually filed suit for their security deposit, which has not been returned to them (Oklahoma law states that the landlord has thirty days to return the deposit, which I am still well within). I have already made plans based upon the assumption that the lease will be honored. Moving arrangements have been made (from Oklahoma to Minnesota) and are not flexible. After the lease was signed, the property was removed from all listings. I have since re-listed the location. The reason it has been re-listed is that from what I could determine from Oklahoma statute 41 (the statute concerning landlords and tenants) the landlord must make reasonable attempts to re-lease the property. So basically, the tenant wants to cancel the contract with no repercussions to them. Should I countersue for two months rent (seems to be the generally accepted amount for break of contract)? The security deposit is in the process of having an escrow account opened for it, as this is what it appears is required by OK law. --68.12.xxx.xx