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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TERMINATION OF RESIDENTIAL LEASE
THIS TERMINATION OF LEASE AGREEMENT (“Agreement”) is between
_____________ __________________ [Instruction: Insert the name of landlord or manager
(if applicable)] (“Landlord”) and ____________________________________ [Instruction:
Insert the name of tenant] (“Tenant”).
WHEREAS 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, Tenant and Landlord wish to end their relationship and mutually agree to terminate
the Lease forthwith;
NOW THEREFORE, in consideration of the mutual covenants and recitals, Landlord and
Tenant hereby acknowledge that the Lease in favor of Tenant is terminated effective on ____
[Month] ____ [Date], 20____ conditional upon the following:
1. Premises: The Premises being returned to 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 ($20,000)] [Instruction: Insert the security deposit amount]. If
the Tenant fulfills the obligation under clause 1 and obligations under the Lease, then
Landlord shall return the security deposit within Twenty (20) days of the expiration or
termination of the rental agreement under Pennsylvania [STATUTE]. 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;