The Early Lease Termination Agreement is essential in situations where either the landlord or tenant needs to end a lease before its scheduled expiration date. This document is commonly used across Canadian provinces when circumstances such as job relocation, property sale, or mutual agreement necessitate early lease termination. It must comply with provincial residential tenancy laws and typically includes detailed provisions for the termination date, financial settlements, property condition requirements, and mutual releases. The agreement helps prevent future disputes by clearly documenting the terms of separation, handling of security deposits, and final property inspection requirements. It's particularly important in Canadian jurisdictions where specific provincial regulations govern residential tenancy relationships and early termination procedures.
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1. Parties: Identification of the landlord and tenant(s), including full legal names and current addresses
2. Background: Details of the original lease agreement, property address, and brief context for the early termination
3. Definitions: Definitions of key terms used throughout the agreement
4. Termination Date: Specific date when the lease will terminate and tenant will vacate
5. Financial Settlement: Details of any payments, refunds, or forfeitures including rent, deposits, and fees
6. Mutual Release: Mutual release of obligations under the original lease post-termination
7. Property Condition: Requirements for the condition in which the property must be returned
8. Keys and Access: Arrangements for returning keys and final property access
9. Governing Law: Specification of applicable provincial law
10. Execution: Signature blocks and execution details
1. Security Deposit: Specific arrangements for handling the security deposit if different from standard terms
2. Outstanding Repairs: Include when there are ongoing repair issues that need to be addressed
3. Forwarding Address: Include when specific arrangements are needed for future correspondence or deposit return
4. Utilities: Include when there are specific requirements for utility transfer or final payments
5. Personal Property: Include when there are arrangements needed for abandoned property
6. Reference Letter: Include when the landlord agrees to provide a reference letter
7. Subletting/Assignment: Include when there's a subletter or assignee involved in the termination
1. Schedule A - Property Inspection Report: Detailed inspection report documenting the condition of the property at termination
2. Schedule B - Financial Statement: Detailed breakdown of all financial settlements, including any deductions from deposits
3. Schedule C - Cleaning Checklist: Specific requirements for cleaning and property preparation before vacancy
4. Appendix 1 - Photographs: Documentation of property condition with dated photographs
5. Appendix 2 - Forwarding Address Form: Official form for tenant's forwarding address details
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