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Form #1141

Agreed Lease Termination (Type A)

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AGREED LEASE TERMINATION (TYPE A)

 

FOR MUTUALLY EXCHANGED CONSIDERATION, the following agreement is made on this ____ day of _____________________ (Month & Year) between ______________

_______________ (hereinafter referred to as “Landlord”) and ______________________ (hereinafter referred to as “Tenant”).

 

WHEREAS, Landlord and Tenant previously entered into a lease dated _____________; and both such parties now desire to terminate the lease, it is hereby agreed by both parties, intending to be legally bound, as follows:

 

1.  Said lease shall cease as of _______________________ (Date).

 

2.  Except in regards to such obligations as arose prior to the cancellation date set out in paragraph 1 above, both parties agree to release each other of all liability under the lease.

 

3.  Should any terms of the agreement exist in addition to the those contained within the aforementioned Lease, said agreement shall continue in full force and effect.

 

IN WITNESS WHEREOF, the parties have executed this agreement the day, month and year first above written.

 

 

_________________________________             _________________________________

Landlord                                                                Tenant

 

 

WITNESS: _______________________

 



 
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Name of Firm Asian Investment Advisers
Total Forms Contributed 61
 

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Submissions to this site, including any legal or business forms, posts, responses to questions or other communications by contributors are not intended as and should not be construed as legal advice. You are strongly encouraged to consult competent legal council before engaging in any action based upon content contained on this site.

These downloadable forms are only for personal use. Retransmission, redistribution, or any other commercial use is prohibited. This includes reposting forms from this site to another site offering free legal or other document forms for download.

Please note that the donator may have included different usage terms regarding this form, and you agree to abide by these terms. It is highly recommended that you have a licensed attorney review any legal documents for which you are searching in order to make sure that your needs are being properly and completely satisfied.

Your use of this site constitutes your acceptance of our terms of use and your agreement to hold this site, its officers, employees and any contributors to this site harmless for any damage you might incur from your use of any submissions contained on this site. If you do not agree to the above terms, please do not proceed.

These forms are provided to assist business owners and others in understanding important points to consider in different transactions. They are offered with the understanding that no legal advice, accounting, or other professional service is being offered by these documents or on this website. Laws vary in the different states. Agreements acceptable in one state may not be enforced the same way under the laws of another state. Also, agreements should relate specifically to the particular facts of each situation. Therefore, it is important to consult legal counsel whenever utilizing these forms. The Forms are not a substitute for legal advice YourFreeLegalForms.com is not engaged in recommending or referring members on the site or making claims about the competence, character or qualifications of its participating members.
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Comments

submitted 12/8/2008
by DavidMarshall  

"Even though a lease may have a fixed term of months or years written in, the parties retain their freedom of contract. Thus, by mutual agreement, they can agree to terminate the lease early. This may be entirely voluntary or through pressure of circumstances. No matter what the reason, a short legal form like this is required to confirm that all the mutual obligations under the original lease are now considered ended. This is needed as evidence. Otherwise, a dishonest landlord might later claim non-payment of the rent was a breach of the lease. However, note that this type of legal form would not be appropriate if the termination of the lease was for cause unless there was a very careful revision of the terms."
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Keywords: Agreed Lease Termination (Type A), Real Estate, Lease, legal documents

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