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Real Estate Lease Termination Agreement (Tenant) template
Real Estate Lease Termination Agreement (Tenant) sample


What is Real Estate Lease Termination Agreement (Tenant)?

Real Estate Lease Termination Agreement (Tenant) An agreement allowing a tenant to terminate a lease agreement for real estate, specifying termination terms, notice requirements, and any associated costs or obligations.



Sample template:



REAL ESTATE LEASE TERMINATION AGREEMENT


This Real Estate Lease Termination Agreement (the "Agreement") is entered into as of the date of execution by and between Sylvan Homes, Inc., a corporation organized under the laws of the United States of America (the "Tenant"), and Riverbend Properties, LLC, a limited liability company organized under the laws of the United States of America (the "Landlord"), with respect to the termination of that certain lease agreement (the "Lease") dated ________, pertaining to the property located at 456 Oak Avenue, Cityville, USA (the "Property").

1. Termination of Lease

1.1. Termination Date


The parties hereby agree that the Lease shall terminate on __________ (the "Termination Date"). The Tenant shall vacate the Property and remove all personal property by the Termination Date in accordance with the terms and conditions of this Agreement.



1.2. Notice Period


The Tenant shall provide the Landlord with written notice of its intent to terminate the Lease at least thirty (30) calendar days prior to the Termination Date (the "Notice Period").



1.3. Early Termination Fee


If the Tenant terminates the Lease prior to its natural expiration date, the Tenant shall pay the Landlord an early termination fee in the amount of __________ (the "Early Termination Fee"). The Early Termination Fee shall be payable to the Landlord on or before the Termination Date.



2. Security Deposit Refund

2.1. Inspection of Property


Upon receipt of the Tenant's written notice of its intent to terminate the Lease, the Landlord shall inspect the Property for damages beyond normal wear and tear, and provide notice to the Tenant detailing any such damages. The Tenant shall have the opportunity to review and comment upon the damages and related costs, if any.



2.2. Refund of Security Deposit


Subject to the provisions of Section 2.1 above, the Landlord shall refund to the Tenant the security deposit paid by the Tenant in connection with the Lease, less any deductions permitted under the Lease and/or applicable law, within thirty (30) calendar days following the Termination Date.



3. Post-Termination Obligations

3.1. Surrender of Property


Upon the Termination Date, the Tenant shall surrender the Property to the Landlord in a clean and orderly condition, free of the Tenant's personal property, unused fixtures, and any alterations or improvements that were not approved by the Landlord in writing. The Tenant shall comply with any additional requirements or obligations set forth in the Lease regarding the condition of the Property upon termination.



3.2. Tenant's Responsibility for Damages


Notwithstanding the termination of the Lease, the Tenant shall remain responsible for any damages to the Property caused by the Tenant, its agents, employees, or invitees, during the Term of the Lease, including any damages discovered after the Tenant's surrender of the Property.



3.3. Return of Keys and Access Devices


Upon the Termination Date, the Tenant shall return to the Landlord all keys, access cards, and other access devices issued to the Tenant in connection with the Property.



4. Entire Agreement

This Agreement, together with the Lease, constitutes the entire understanding and agreement of the parties with respect to the termination of the Lease, and supersedes any and all prior and contemporaneous agreements, negotiations and communications, whether written or oral, between the parties with respect to the subject matter hereof. No modification, waiver, amendment, discharge or change of this Agreement shall be valid unless the same is in writing and signed by the party against which the enforcement of such modification, waiver, amendment, discharge or change is sought.



5. Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the United States of America and the state in which the Property is located, without regard to any conflict of laws principles.



6. Execution

By signing below, the parties acknowledge that they have read and understood the terms of this Agreement, and agree to be legally bound by its terms and conditions.



IN WITNESS WHEREOF, the parties have executed and signed this Agreement as of the date first above written.



_______________________________


Tenant: Sylvan Homes, Inc.



By: ___________________________


Name: _________________________


Title: ________________________



_______________________________


Landlord: Riverbend Properties, LLC



By: ___________________________


Name: _________________________


Title: ________________________

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Main Sections of a Real Estate Lease Termination Agreement (Tenant)


In this Real Estate Lease Termination Agreement (Tenant), you will see the following sections:

  1. Termination of Lease
  2. Security Deposit Refund
  3. Post-Termination Obligations
  4. Entire Agreement
  5. Governing Law
  6. Execution


About each Section - Analysis and Summary:

  1. Termination of Lease : This section outlines the process for ending the lease, including the termination date, notice period, and any early termination fees. Think of it as the "break-up" plan between the tenant and landlord, detailing how they will part ways and any costs involved.

  2. Security Deposit Refund : This section explains how the landlord will inspect the property for damages and return the tenant's security deposit, minus any deductions for damages or other allowable expenses. It's like getting your security deposit back after renting a car, but with a more detailed inspection process.

  3. Post-Termination Obligations : This section outlines the tenant's responsibilities after the lease has ended, such as leaving the property in a clean and orderly condition, being responsible for any damages, and returning keys and access devices. It's like a checklist of tasks the tenant must complete before moving out.

  4. Entire Agreement : This section states that the lease termination agreement, along with the original lease, represents the complete understanding between the tenant and landlord regarding the termination of the lease. It means that any previous discussions or agreements not included in these documents are not legally binding. It's like saying, "This is the final word on our agreement, and nothing else matters."

  5. Governing Law : This section specifies that the agreement will be governed by the laws of the United States and the state where the property is located. It's like choosing the "rulebook" that will be used to interpret and enforce the agreement.

  6. Execution : This section is where the tenant and landlord sign the agreement, acknowledging that they have read, understood, and agreed to its terms. It's like putting the final stamp of approval on the agreement, making it official and legally binding.

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