This Termination of Residential Lease agreement may be used to terminate a lease upon mutual agreement by both the landlord and the tenant. This agreement effectively ends the lease on the condition that the tenant returns the premises in good condition and the landlord returns the tenant's security deposit. It contains the standard provisions that are commonly included in these types of agreements as well as opportunities for customization to fit the specific needs of the parties. This document should be used by landlords and tenants located in Pennsylvania when mutually agreeing to terminate a lease.
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. ALL INFORMATION AND FORMS ARE PROVIDED “AS IS” WITHOUT ANY EXPRESS OR IMPLIED WARRANTY, INCLUDING AS TO LEGAL EFFECT OR COMPLETENESS. They are for guidance and should be modified by you or your attorney to meet your specific needs and the laws of your state. Use at your own risk. Docstoc, its employees or contractors who wrote or modified any form, are NOT providing legal or any other kind of advice and are not creating or entering into an Attorney-Client relationship. The information and forms ® are not a substitute for the advice of your own attorney. Subject to our Terms of Service (http://www.docstoc.com/popterm.aspx?page_id=15). See back cover page and read more here (http://www.docstoc.com/popterm.aspx?page_id=114) for additional disclaimers and more. This document is not approved, endorsed by, or affiliated with any State, or governmental or licensing entity. Entire document © Docstoc, Inc., 2010, 2011 © Copyright 2011 Docstoc Inc. registered document proprietary, copy not 1 Attorney Drafted 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”). RECITALS 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; b. Tenant has complied with all obligations under the Lease, and will continue to comply with all of such obligations until the effective date of termination. 4. Other terms: ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ © Copyright 2011 Docstoc Inc. registered document proprietary, copy not 2 __________________________________________________________________________. [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] 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: _________________________________ © Copyright 2011 Docstoc Inc. registered document proprietary, copy not 3 Note: Carefully read and follow the Instructions and Comments contained in this document for your customization to suit your specific circumstances and requirements. 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