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Form To Terminate Lease Agreement
"I need a Form To Terminate Lease Agreement for my commercial warehouse in Riyadh, with early termination effective March 1, 2025, including specific provisions for removing industrial equipment and settling outstanding utility payments."
1. Parties: Identification of the Landlord and Tenant, including their full legal names, national ID numbers/CR numbers, and contact details
2. Background: Brief description of the existing lease agreement, including its date, property details, and reference to Ejar registration
3. Definitions: Key terms used in the agreement, including 'Termination Date', 'Property', 'Original Lease', and 'Outstanding Amounts'
4. Termination: Clear statement of mutual agreement to terminate the lease, specifying the effective termination date
5. Financial Settlement: Details of final rent payment, security deposit return, and settlement of any outstanding utilities or charges
6. Property Handover: Specifications for the condition of property return, inspection procedures, and key handover process
7. Release of Obligations: Mutual release of future obligations under the original lease, subject to completion of termination conditions
8. Governing Law: Confirmation that the agreement is governed by Saudi Arabian law and Sharia principles
1. Ongoing Obligations: Used when certain obligations survive termination, such as confidentiality or maintenance responsibilities
2. Dispute Resolution: Include when parties wish to specify particular dispute resolution mechanisms or court jurisdiction
3. Third Party Rights: Required when there are guarantors or other third parties involved in the original lease
4. Utilities Transfer: Include when specific arrangements are needed for transferring or disconnecting utility services
5. Renovation Requirements: Used when specific property restoration or renovation requirements apply before handover
1. Property Inventory: Detailed list of property condition and fixtures at termination
2. Financial Statement: Breakdown of all financial settlements, including rent, deposits, and deductions
3. Handover Checklist: Comprehensive checklist for property inspection and handover procedures
4. Original Lease Details: Copy or key details of the original lease agreement including Ejar registration
5. Required Notifications: Templates for notifications to authorities, utility companies, or other relevant parties
Authors
Real Estate
Residential Property
Commercial Property
Retail
Hospitality
Industrial
Office Space
Healthcare
Education
Logistics
Manufacturing
Legal
Real Estate
Property Management
Operations
Facilities
Administrative
Compliance
Asset Management
Contract Management
Customer Relations
Property Manager
Real Estate Agent
Leasing Manager
Facilities Manager
Legal Counsel
Property Administrator
Asset Manager
Operations Manager
Contract Administrator
Real Estate Director
Compliance Officer
Tenant Relations Manager
Building Manager
Real Estate Portfolio Manager
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