The Agreement To Terminate Lease Early Form is a crucial legal document used in Canadian jurisdictions when both landlord and tenant mutually agree to end a lease agreement before its scheduled termination date. This document is essential for properly documenting the early termination process, protecting both parties' interests, and ensuring compliance with provincial residential tenancy laws. It should be used whenever there is a mutual desire to end a lease early, whether due to tenant circumstances, landlord requirements, or other agreed-upon reasons. The agreement includes specific details about the termination date, handling of security deposits, final utility payments, property inspection requirements, and the mutual release of future obligations. It also addresses key aspects such as the condition of the property upon surrender and the settlement of any outstanding financial matters, all while ensuring compliance with relevant provincial legislation and regulations.
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1. Parties: Identifies and provides full legal names and addresses of both the landlord and tenant(s)
2. Background: References the original lease agreement details including date of execution and property address
3. Definitions: Defines key terms used throughout the agreement including 'Termination Date', 'Security Deposit', and 'Original Lease'
4. Mutual Agreement to Terminate: States the mutual agreement to terminate the lease early and specifies the exact termination date
5. Financial Settlement: Details the handling of security deposit, prepaid rent, and any other financial obligations
6. Property Inspection: Outlines the process and timing for final property inspection
7. Keys and Access: Specifies when and how keys, access cards, and other property access items will be returned
8. Release of Obligations: Mutual release of future obligations under the original lease
9. Governing Law: Specifies that the agreement is governed by relevant provincial/territorial law
10. Execution: Signature block and date of execution
1. Outstanding Repairs: Include when there are specific repair obligations that need to be addressed before termination
2. Utilities Transfer: Include when utilities are in tenant's name and transfer procedures need to be specified
3. Forwarding Address: Include when specific arrangements for future communications need to be documented
4. Assignment of Parking/Storage: Include when additional rented facilities need to be addressed
5. Early Termination Fee: Include when an agreed-upon fee is being charged for early termination
6. Confidentiality: Include when parties wish to keep the terms of the early termination private
1. Schedule A - Property Condition Report: Template for documenting the condition of the property at termination
2. Schedule B - Financial Statement: Detailed breakdown of all financial settlements, including security deposit deductions if applicable
3. Schedule C - Utilities Transfer Form: Form for transferring or terminating utility services
4. Appendix 1 - Move-out Checklist: Checklist of tenant responsibilities for vacating the property
5. Appendix 2 - Original Lease Reference: Copy or key terms of the original lease agreement being terminated
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Relevant Industries
Real Estate
Property Management
Residential Housing
Commercial Real Estate
Legal Services
Property Development
Rental & Leasing
Asset Management
Housing Administration
Relevant Teams
Legal
Property Management
Leasing
Operations
Administrative
Tenant Relations
Asset Management
Compliance
Real Estate
Facilities
Relevant Roles
Property Manager
Leasing Manager
Real Estate Agent
Legal Counsel
Tenant Relations Coordinator
Asset Manager
Property Administrator
Lease Administrator
Real Estate Manager
Housing Coordinator
Facilities Manager
Operations Manager
Compliance Officer
Residential Services Manager
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