The Agreement To Break Lease Form is essential when parties wish to terminate a lease before its scheduled end date in England and Wales. This document is commonly used when circumstances require early termination, such as business relocations, personal circumstances, or mutual agreement between parties. It includes crucial details about the termination date, financial settlements, property condition requirements, and obligations of all parties. The agreement ensures compliance with relevant legislation including the Landlord and Tenant Act 1954 and the Housing Act 1988, providing legal certainty and protection for all involved parties.
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Key Requirements PROMPT example:
Agreement To Break Lease Form
"I need an Agreement To Break Lease Form for my commercial office space in Manchester, where my company wishes to terminate our 5-year lease early on March 1, 2025, due to business relocation, and we need to ensure all dilapidations are properly addressed."
1. Parties: Details of the landlord and tenant, including full legal names and addresses
2. Background: Brief context about the existing lease and reason for early termination
3. Definitions: Key terms used throughout the agreement
4. Break Date: Specific date when the lease will terminate
5. Financial Settlement: Details of any payments, including outstanding rent and break fee
6. Property Condition: Requirements for the condition in which the property must be returned
7. Execution: Signature blocks and execution provisions
1. Deposit Return: Terms for returning the security deposit - use when a security deposit was paid under the original lease
2. Dilapidations: Specific arrangements for addressing property damage or alterations - use when there are outstanding repair or restoration obligations
3. Service Charges: Settlement of service charge accounts - use for leases with service charge provisions
1. Schedule 1: Property Inventory: List of fixtures, fittings and condition assessment
2. Schedule 2: Financial Statement: Detailed breakdown of all financial settlements
3. Appendix A: Original Lease: Copy of the original lease being terminated
4. Appendix B: Photographic Evidence: Property condition photographs (if required)
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