Termination of Lease Agreement - General

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Termination of Lease Agreement - General Powered By Docstoc
					This is an agreement between a landlord and a tenant whereby both parties mutually
agree for the premature termination of a lease. For this termination to be valid, both
parties must voluntarily agree to terminate the lease early. In addition, the tenant
agrees to indemnify the landlord for any losses they sustain in connection with the
tenant’s occupancy. This agreement can be used by individuals or entities that want to
terminate a lease before its term expires.
                            TERMINATION OF LEASE
B E T W E E N:



                                  ____________________

                                      (hereinafter called the “Landlord”)

                                                                     OF THE FIRST PART,

                                      - and –



                                  ___________________

                                      (hereinafter called the “Tenant”)
                                      [Instruction: Insert parties’ names.]

                                                                  OF THE SECOND PART.



              WHEREAS the Landlord had entered into an Agreement to Lease with
________________ [Instruction:      Insert Tenant’s name.] dated the _____ day of
_______________, ______ [Instruction: Insert lease date.] (the “Lease”) for the premises
located at __________________________________ [Instruction: Insert address of leased
property. In the event only a portion of the property is leased to the tenant, describe
portion leased, and include apartment number if applicable.] (the “Premises”);

               AND WHEREAS the Tenant has been in possession of the premises since on or
about that date;

              AND WHEREAS the Tenant and the Landlord 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 favour of the Tenant is terminated
effective the ______ day of ________________, 20_____ [Instruction: Insert lease
termination date.] conditional upon the following:

1.    The Premises being returned to the Landlord in a good state of repair and condition in
      accordance with paragraph _________ of the Lease [Instruction: Insert applicable
      paragraph number.], normal wear and tear excepted;




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2.    The Premises being returned to Landlord in accordance with all of the terms of the Lease,
      except with respect to the termination date, including with respect to payment of all fees
      due and owing under the Lease.


3.    The Tenant agrees to indemnify and save harmless the Landlord after the termination of
      the Lease in accordance with paragraph ________ [Instruction: Insert applicable Lease
      paragraph.]of the Lease and in addition from any and all losses, costs, legal costs, fees,
      expenses, demands, liabilities, penalties, suits, claims, actions, damages, of any nature or
      kind whatsoever which may be made or brought against the Landlord by any party, either
      directly or indirectly arising from any liability that the Tenant may have with respect to
      any matter related to its use of the leased premises; and

4.    The parties acknowledge and agree that a facsimile signature from any party executing
      this Agreement shall be binding upon the party and the parties acknowledge further that
      this Agreement may be executed in any number of counterparts, each of which shall be
      deemed to be an original by all for which shall constitute one instrument.


        DATED this _______ day of ____________________, 20_______. [Instruction: Insert
date signed.]



                                                (LANDLORD)
                                                Per:



                                                Name:
                                                Title:
                                                I have authority to bind the Company.
or if Landlord an individual



Witness:                                        Landlord



Witness:                                        Tenant




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DOCUMENT INFO
Description: This is an agreement between a landlord and a tenant whereby both parties mutually agree for the premature termination of a lease. For this termination to be valid, both parties must voluntarily agree to terminate the lease early. In addition, the tenant agrees to indemnify the landlord for any losses they sustain in connection with the tenant’s occupancy. This agreement can be used by individuals or entities that want to terminate a lease before its term expires.
This document is also part of a package Steps in Terminating a Contract 7 Documents Included