This document sets forth a release agreement between a landlord (lessor) and tenant (lessee) to remove the tenant from obligations under the lease agreement. The lessor releases the lessee from all obligations and duties arising under the lease and from all claims, demands, and causes of action that the lessor had or may have against the lessee in regards to the lease. In exchange, the lessee surrenders all rights in and to the property and possession is delivered to the lessor. This document should be used when a landlord and tenant wish to terminate an existing lease.
This document sets forth a release agreement between a landlord (lessor) and tenant (lessee) to remove the tenant from obligations under the lease agreement. The lessor releases the lessee from all obligations and duties arising under the lease and from all claims, demands, and causes of action that the lessor had or may have against the lessee in regards to the lease. In exchange, the lessee surrenders all rights in and to the property and possession is delivered to the lessor. This document should be used when a landlord and tenant wish to terminate an existing lease. RELEASE OF LEASE AGREEMENT THIS RELEASE AGREEMENT (the “Agreement”) is entered into on [DATE] by and between [NAME OF LESSOR] (“Lessor”) and [NAME OF LESSEE] (“Lessee”). RECITALS WHEREAS, on [DATE], a Lease Agreement between Lessor and Lessee was executed for the premises located at [ADDRESS] (the “Premises), a copy of which is attached hereto as Exhibit “A” and made a part hereof (the “Lease”); WHEREAS, [DESCRIBE FACTS NECESSITATING THIS RELEASE AGREEMENT]; WHEREAS, the parties hereto desire to settle all claims of Lessor with respect to the Lease and to terminate all obligations of either party thereunder; NOW THEREFORE, in consideration of the mutual promises, covenants, warranties, and other good and valuable consideration set forth herein, the parties hereby agree as follows: TERMS 1. RELEASE In consideration of _________ dollars ($__) [AMOUNT], from Lessee, receipt of which is hereby acknowledged, Lessor hereby releases Lessee from all obligations and duties under the Lease as of the Effective Date (defined below). Lessor also releases Lessee from all claims, demands, and causes of action that Lessor had, has, or may have against Lessee in regard to the Lease. 2. EFFECTIVE DATE The terms and conditions of this Agreement shall go into effect as of [DATE] (the “Effective Date”). 3. SURRENDER OF PROPERTY In consideration of this Agreement, Lessee hereby surrenders all rights in and to the subject Premises. Possession of said Premises shall be delivered up to Lessor immediately upon the date of execution of this instrument or the Effective Date, as applicable. Lessor is hereby relieved of any responsibilities or obligations under the Lease. 4. APPLICABLE LAW This Agreement shall, in all respects, be governed by the laws of the State of [STATE] applicable to execution of such agreements and is to be wholly performed within the State of [STATE]. © Copyright 2013 Docstoc Inc. 2 5. SEVERABILITY Nothing contained herein shall be construed to require the commission of any act contrary to law, and wherever there is any conflict between any provision contained herein and any present or future statute, law, ordinance, or regulation pursuant to which the parties have no legal right to contract, the latter shall prevail, but the provision of this Agreement which is effected shall be curtailed and limited only to the extent necessary to bring it within the requirements of the law. 6. ENTIRE AGREEMENT This Agreement constitutes the entire agreement of the parties with respect to the subject matter herein and supersedes any and all other written or oral negotiations, understandings, or agreements between the parties with respect to the rights and obligations assumed herein. This Agreement contains all of the covenants and agreements among the parties with respect to such rights and obligations. 7. HEADINGS The headings appearing at the commencement of the paragraphs herein are descriptive only and for convenience in reference. Should there be any conflict between any such heading and the paragraph above which it appears, the paragraph and not the caption shall control and govern in the construction of this Agreement. 8. COUNTERPARTS This Agreement may be executed in two (2) or more separate counterparts, each of which, when so executed, shall be deemed to be an original. Such counterparts shall together constitute and be one and the same instrument. IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above. LESSOR LESSEE [NAME] [NAME] ____________________________________ ______________________________ Date Date © Copyright 2013 Docstoc Inc. 3
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