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The Cancellation Of Registered Lease Deed is a crucial legal instrument in Pakistani property law, utilized when parties mutually agree to terminate an existing registered lease before its natural expiration. This document becomes necessary when both lessor and lessee wish to formally end their lease relationship, ensuring legal compliance with the Transfer of Property Act 1882 and Registration Act 1908. It's particularly important as it provides documented proof of lease termination, handles the settlement of outstanding obligations, and prevents future disputes. The document must be properly registered with the relevant sub-registrar's office and requires appropriate stamp duty payment under Pakistani law. It's commonly used in both commercial and residential property scenarios, providing a clear record of property restoration to the lessor and mutual release from lease obligations.

1. Parties: Identification of the Lessor/Landlord and Lessee/Tenant with complete details including names, addresses, and legal capacity

2. Background: References to the original lease deed including its registration number, date, and relevant details of the property

3. Definitions: Definitions of key terms used in the cancellation deed

4. Cancellation Declaration: Clear statement of mutual agreement to cancel the lease deed and terminate all rights and obligations

5. Effective Date: Specification of the date from which the cancellation becomes effective

6. Settlement of Dues: Confirmation that all dues, rents, and charges have been settled between the parties

7. Possession: Declaration of handover/return of possession of the property to the lessor

8. Mutual Release: Statement releasing both parties from all future obligations under the original lease

9. Governing Law: Specification that the deed is governed by the laws of Pakistan

10. Execution: Signature clauses and witness requirements