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This document may be used to terminate a residential lease, upon mutual agreement by both parties. Fill in appropriate areas to suit your needs.
This is an agreement between a landlord and a tenant whereby both parties mutually agree to the premature termination of a residential lease. For this termination to be valid, both parties must voluntarily agree to terminate the lease early. In addition, the landlord certifies that he or she will return the security deposit if the tenant has fulfilled all of the obligations under the lease. This agreement can be used by individuals or entities that want to terminate a residential lease before its term has expired. 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 ($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 _________________ __________________________________; [Instruction: insert statutory authority] after Tenant vacates the 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: ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ © Copyright 2013 Docstoc Inc. 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 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 2013 Docstoc Inc. 3
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