The Early Termination of Lease Agreement is a crucial document used in Canadian jurisdictions when either the landlord or tenant needs to end a lease before its scheduled expiration date. This document is essential in situations such as tenant relocation, property sale, or mutual agreement to end the tenancy early. It includes specific provisions required by provincial tenancy laws, such as notice periods, security deposit handling, and property inspection requirements. The agreement protects both parties' interests by clearly documenting the termination terms, financial settlements, and release of future obligations. It's particularly important in preventing future disputes and ensuring a smooth transition of property possession while maintaining compliance with local regulations.
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1. Parties: Identification of the landlord and tenant(s), including full legal names and current contact information
2. Background: Brief overview of the existing lease agreement, including its start date, property address, and the reason for early termination
3. Definitions: Key terms used throughout the agreement, including 'Termination Date', 'Security Deposit', 'Property', etc.
4. Termination Date: Specific date when the lease will be terminated and the tenant will vacate the property
5. Mutual Release: Statement that both parties agree to release each other from the obligations of the original lease agreement
6. Financial Settlement: Details of any financial agreements, including handling of security deposit, remaining rent, and any termination fees
7. Property Inspection: Requirements for final inspection and the condition the property must be left in
8. Keys and Access: Arrangements for returning keys and security devices
9. Governing Law: Statement that the agreement is governed by relevant provincial/territorial laws
10. Execution: Signature blocks for all parties and date of signing
1. Forwarding Address: Section for tenant to provide their new address for future correspondence and return of security deposit - include when tenant is relocating
2. Outstanding Utilities: Provisions for handling any utility payments or transfers - include when utilities are in tenant's name
3. Abandoned Property: Procedures for handling any property left behind - include when there's risk of abandonment
4. Insurance: Requirements regarding termination of tenant's insurance - include when insurance was required in original lease
5. Sublease/Assignment: Provisions if the termination involves a sublease or assignment - include when relevant
6. Maintenance Issues: Addressing any ongoing maintenance or repair issues - include when there are outstanding maintenance matters
7. Pet Provisions: Special provisions for cleaning or damage related to pets - include when pets were present
1. Schedule A - Move-out Inspection Checklist: Detailed checklist for property inspection and condition assessment
2. Schedule B - Financial Statement: Breakdown of all financial settlements, including security deposit deductions if applicable
3. Schedule C - Photographic Evidence: Referenced photos of property condition at termination
4. Appendix 1 - Original Lease Agreement: Copy of the original lease agreement being terminated
5. Appendix 2 - Proof of Notice: Documentation of proper notice given by either party
6. Appendix 3 - Utility Readings: Final utility readings and account transfer documentation
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