Termination of Residential Lease
This document may be used to terminate a residential lease, upon mutual agreement
ocstoc Legal Agreements
by both parties. Fill in appropriate areas to suit your needs.
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Attorney Drafted
TERMINATION OF RESIDENTIAL LEASE
THIS TERMINATION OF LEASE AGREEMENT (“Agreement”) between
________________________________ [Instruction: Insert the name of landlord or manager
(if applicable)] (“Landlord”) and ______________________________ [Instruction: Insert the
name of tenant] (“Tenant”).
RECITALS
WHEREAS the Landlord has entered into a certain Residential Lease with Tenant dated ____
[Month] ____ [Date], 20____ [Instruction: Insert the date of Residential Lease Agreement]
(the “Lease”) for the premises located at
______________________________________________________________________________
______________________________________________________________________________
[Instruction: Insert the address of the Premises] (the “Premises”);
WHEREAS, the Tenant and the Landlord wish to end their relationship and mutually agree to
terminate the Lease forthwith;
NOW THEREFORE, in consideration of the mutual covenants and recitals, the Landlord and
Tenant hereby acknowledge that the Lease in favor of the Tenant is terminated effective on
____ [Month] ____ [Date], 20____ conditional upon the following:
1. Premises: The Premises being returned to the Landlord is in good and clean condition,
undamaged and restored to the original condition of the Premises that existed at the
commencement of the Lease, normal and ordinary wear and tear excepted.
2. Security deposit: Landlord holds Tenant’s security deposit of ____________ ($____)
[twenty thousand dollars only ($20,000)] [Instruction: Insert the security deposit
amount]. If the Tenant fulfils the obligation under clause 1 and obligations under the Lease,
then Landlord shall return the security deposit within Thirty Five (35) days under South
Dakota Code; Title 35- Property; Chapter 9A; Section 201; after Tenant vacates the
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Premises. Landlord reserves the right to use the security deposit for the purposes set forth in
the Lease.
3. Representation and Warranty: Tenant represents and warrants to Landlord as follows:
a. Tenant has the right and authority to enter into this agreement;
b. Tenant has complied with entire obligations under the Lease, and will continue to comply
with all of such obligations until the effective date of termination
4. Other terms:
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
__________________________________________________________________________.
[Comment: Kindly write any special terms discussed and agreed between Landlord and
Tenant in the above space, otherwise delete section 4.]
5. Counterparts: The parties acknowledge and agree that this Agreement may be executed and
effectuated through transmission of signed facsimiles or imaged documents (e.g., .pdf, .jpeg,
or .tiff) attached to emails, and in counterparts, and shall be binding upon the parties as if
they were original documents.
[Comment: This section 5 is not required, but the parties may use it if they so wish]
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IN WITNESS WHEREOF, the parties hereto have set and subscribed their respective hands
unto this Agreement on the day and date first set out hereinabove.
For: LANDLORD
Signed: _________________________________
Name: __________________________________
For: TENANT
Signed: _______________________________
Name: _________________________________
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