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Form #1142

Agreed Lease Termination (Type B)

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Agreed Lease Termination (Type B)- Free form to download and use.

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AGREED LEASE TERMINATION (TYPE B)

 

 

______________________ (State)

 

______________________ (County)

 

This Agreement is made ____________________________ (Date), by and between ______________ (Lessor) and _______________________________, Inc. (Lessee).  Lessor and Lessee state and acknowledge as follows: 

 

A.  Lessor and Lessee previously entered into Lease of certain real property located at ____________________________________________________________ (Address), which Lease is dated __________________ ; and

 

B.  Lessor and lessee both desire to terminate that Lease and to release each other from all liability thereunder.

 

THEREFORE, in consideration of the reciprocal covenants and obligations stated herein, Lessor and Lessee agree as follows:

 

[1.]  The Lease is terminated as of the date of this Agreement;

 

[2.]  Lessor hereby releases Lessee from all obligation and liability to Lessor of any nature whatsoever arising out of or pursuant to the Lease; and

 

[3.]  Lessee hereby releases Lessor from all obligation and liability to Lessee of any nature whatsoever arising out of or pursuant to the Lease; and

 

IN WITNESS WHEREOF, the parties have executed this Agreement on the date stated above.

 

 

 

_____________________________           _____________________________, Inc.

Lessor                                                           Lessee

 

 

By:  _____________________________ Inc., Agent

 

 

 

By:  _____________________________

         President

 

 

Contributed by
Asian Investment Advisers
 
Name of Firm Asian Investment Advisers
Total Forms Contributed 61
 

See All Asian Investment Advisers's Forms
 

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Terms Of Use

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  

"As you can see this is a second legal form for the same purpose of terminating a lease early. Even though a lease may be for a fixed term of months or years, the parties retain their freedom of contract and can, by mutual agreement, 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 evidences the termination. 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. As it stands, there is an express waiver by the lessor. This could not stand if the lessee was in breach and the lessor wishes to preserve the right to seek compensation for any losses that might follow."
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Keywords: Agreed Lease Termination (Type B), Real Estate, Lease, legal documents

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