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Agreement To Terminate Lease Early Form for United Arab Emirates

Agreement To Terminate Lease Early Form Template for United Arab Emirates

A legally binding document used in the United Arab Emirates that formalizes the mutual agreement between a landlord and tenant to terminate a lease agreement before its scheduled end date. The document complies with UAE Federal Law No. 5 of 1985 (Civil Code) and relevant emirate-specific rental regulations. It outlines the terms of early termination, including the agreed termination date, financial settlements, property handover conditions, and mutual releases from future obligations. The agreement ensures clear documentation of the parties' rights and responsibilities during the termination process.

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Agreement To Terminate Lease Early Form

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What is a Agreement To Terminate Lease Early Form?

The Agreement To Terminate Lease Early Form is essential in UAE real estate transactions where parties mutually agree to end a lease agreement before its natural expiration. This document is particularly relevant in situations involving tenant relocation, property sale, or other circumstances requiring early lease termination by mutual consent. It must comply with UAE Federal Law No. 5 of 1985 (Civil Code) and specific emirate regulations, such as Dubai Law No. 26 of 2007 or Abu Dhabi Law No. 20 of 2006 for properties in those emirates. The agreement includes critical elements such as termination date, financial settlements, property handover requirements, and mutual releases, protecting both parties' interests while ensuring legal compliance with local property laws.

What sections should be included in a Agreement To Terminate Lease Early Form?

1. Parties: Identifies and provides full details of the Landlord and Tenant, including their legal names, addresses, and any registration numbers for companies

2. Background: References the original lease agreement details, including date of execution, property details, and current term

3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty

4. Termination Date: Specifies the agreed early termination date and handover procedures

5. Financial Settlement: Details any financial arrangements, including rent adjustments, refunds, or penalties

6. Mutual Release: Contains mutual releases from future obligations under the original lease, subject to completion of agreed terms

7. Property Condition: Outlines requirements for the condition in which the property must be returned

8. Keys and Access: Specifies arrangements for returning keys and property access devices

9. Governing Law: Confirms UAE law governance and specifies relevant emirate jurisdiction

10. Execution: Signature blocks and execution requirements for all parties

What sections are optional to include in a Agreement To Terminate Lease Early Form?

1. Security Deposit: Details arrangements for return of security deposit, used when a security deposit was paid under the original lease

2. Maintenance Issues: Addresses any outstanding maintenance or repair issues, used when there are unresolved property maintenance matters

3. Utilities Settlement: Arrangements for final utility readings and payments, used when utilities are in tenant's name

4. Forwarding Address: Tenant's forwarding address for future correspondence, used for longer-term tenancies or when required for deposit return

5. Outstanding Payments: Details of any outstanding payments or payment plans, used when there are unpaid amounts

6. Third Party Notifications: Requirements for notifying relevant authorities or service providers, used when required by local regulations

What schedules should be included in a Agreement To Terminate Lease Early Form?

1. Schedule 1 - Original Lease: Copy or key details of the original lease agreement being terminated

2. Schedule 2 - Property Inventory: Current inventory and condition report of the property

3. Schedule 3 - Financial Statement: Detailed breakdown of all financial settlements, including any calculations for pro-rata refunds

4. Schedule 4 - Handover Checklist: Checklist of items to be completed/verified during property handover

5. Appendix A - Utility Account Details: List of utility accounts and final reading arrangements

6. Appendix B - Property Photographs: Current dated photographs of property condition (if required)

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Cost

Free to use
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