The Lease Termination Addendum is a crucial legal document used in Malta when parties to a lease agreement mutually agree to end their rental arrangement before the original termination date, or when formalizing the end of a lease according to its terms. This document must comply with Malta's specific property laws, including the Civil Code (Chapter 16) and either the Private Residential Leases Act 2020 for residential properties or the Commercial Tenancies Reform Act for commercial properties. The addendum typically includes essential details such as the termination date, property handover requirements, settlement of financial obligations, and release of future responsibilities. It serves as a formal record of the agreement between parties and helps prevent future disputes by clearly documenting the terms of the lease termination.
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1. Parties: Identification of the Landlord and Tenant with their full legal names and addresses
2. Background: Reference to the original lease agreement, including its date and key details
3. Definitions: Key terms used in the addendum, including reference to defined terms in the original lease
4. Termination Date: Specific date when the lease will terminate and the premises will be vacated
5. Mutual Agreement: Statement of mutual agreement to terminate the lease early
6. Return of Security Deposit: Terms and timeline for the return of any security deposit
7. Property Inspection: Requirements and process for final inspection of the premises
8. Handover Requirements: Specific conditions for returning the property, including cleaning and repairs
9. Release of Obligations: Mutual release of future obligations under the original lease
10. Governing Law: Confirmation that the addendum is governed by Malta law
11. Signatures: Execution block for all parties to sign and date
1. Outstanding Payments: Used when there are any remaining rent payments, utilities, or other charges to be settled
2. Forwarding Address: Include when tenant needs to provide a forwarding address for future correspondence
3. Keys and Access Devices: Used when there are specific requirements about returning keys, access cards, or other security devices
4. Early Termination Fee: Include when there is a penalty or fee for early termination
5. Surviving Obligations: Used when certain obligations from the original lease need to survive the termination
6. Dispute Resolution: Include when parties want to specify a particular method for resolving any disputes related to the termination
1. Schedule A - Property Condition Report: Detailed checklist for documenting the condition of the property at termination
2. Schedule B - Outstanding Payments Schedule: List of any remaining payments or adjustments to be made
3. Schedule C - Inventory List: List of fixtures, fittings, or furniture to be checked during handover
4. Appendix 1 - Original Lease Agreement: Copy of the original lease agreement being terminated
5. Appendix 2 - Photographic Evidence: Photos documenting the condition of the property at termination
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