Lease Termination Agreement

The more commonly discussed aspect of ending a lease is generally the negative, eviction, but in reality, not all leases end in unpleasing terms. When both parties reach a point where they will be best served by terminating the lease, they can both enter into a lease termination agreement. By the terms of a lease termination agreement, each of the parties agree to terminate the lease without legal action. In essence, the agreement brings about a mutually beneficial means to an end. The tenant may need to pay a fee to the landlord, and in some cases, will also lose their security deposit. The actual agreement will include date of termination, the original lease being changed, the address of property, a provision that property is in proper condition, and a waive of legal claims. After being signed by both parties, the lease is officially over as of the date specified in the agreement.

Fast Facts

  • Some agreements may include a provision on attorney fees

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