Lease Termination Agreement


A lease termination agreement is one which is used by a lessor and a lessee to end the lease. A lease termination agreement is made use of by the lessor to terminate the lease agreement. In this agreement the termination of lease takes place before the end of the lease period due to varied reasons.

Sample Lease Termination Agreement

This lease termination agreement is entered into between Mr. Stuart Little who is the lessor and Mr. Donald Duck who is the lessee as on 25th December 2012 for the property situated at 36, North Lane London.

Details of Lessor

Mr. Stuart Little,

#5, Salt burn-By-The-Sea,

Cleveland, London, TS12

Details of the Lessee

Mr. Donald Duck

#77, Fort William,

Invernessshire,

London, PH33

Terms for lease termination agreement agreed by both the parties:

  1. Both the parties agree to the termination of lease vide this agreement entered into on the 25th of December 2012 which is prior to the lease agreement date of 31st March 2013.
  2. The lessor agrees to pay the initial deposit obtained from the lessee in full after satisfactory inspection of the premises and calculation of damages if any.
  3. The lessee agrees to hand over the premises to the lessor with immediate effect and in a clean and damage free condition. The lessee agrees to bear any repairs or damage charges that may be incurred during the tenure of stay by the lessee.
  4. Both the parties agree that in case of non-compliance of any terms of this agreement may lead to a legal action on the part of the lessor against the lessee wherein the lessee will be responsible for bearing all the costs to the legal dispute settlement if such a situation arises.

Signature of Lessor                                                                             Signature of Lessee

Signature of Witnesses

Witness 1_____________

Witness 2_____________


 

Category: Lease Agreements

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