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Lease Termination Contract
"I need a Lease Termination Contract for my residential apartment in Dubai Marina, with termination date set for March 1, 2025, including standard security deposit return terms and utility account closure procedures."
1. Parties: Identification of the Landlord and Tenant with full legal names, Emirates ID numbers, and contact details
2. Background: Reference to the original lease agreement, including its date, property details, and current rental terms
3. Definitions: Key terms used in the agreement including 'Termination Date', 'Security Deposit', 'Property', and 'Original Lease Agreement'
4. Termination Agreement: Mutual agreement to terminate the lease, specifying the effective termination date
5. Property Handover: Details of the property inspection and handover process, including condition requirements
6. Financial Settlement: Settlement of all outstanding rent, utilities, maintenance charges, and security deposit return terms
7. Release and Waiver: Mutual release from future obligations and claims related to the lease
8. Return of Keys and Access Devices: Process and timing for returning all keys, access cards, and related items
9. Governing Law and Jurisdiction: Confirmation that UAE law governs the agreement and specification of jurisdiction for disputes
10. Execution: Signature blocks for all parties, including witness provisions if required
1. Early Termination Fee: Include when the termination occurs before the natural end of the lease term, specifying any penalties
2. Maintenance Works: Include when specific repair or restoration works are required before handover
3. Forwarding Address: Include when parties need to specify future contact details for post-termination communications
4. Third Party Rights: Include when there are registered mortgages or other third-party interests in the property
5. Confidentiality: Include when parties wish to keep the termination terms confidential
6. Survival Clauses: Include when certain obligations need to survive the termination
1. Property Inventory: Detailed list of fixtures, fittings, and their condition at termination
2. Utility Account Details: List of all utility accounts and status of final readings/payments
3. Outstanding Payments Schedule: Itemized list of any pending payments or refunds
4. Property Inspection Report: Detailed report on the condition of the property at termination
5. Handover Checklist: List of items to be completed/checked during the final handover
Authors
Real Estate
Property Management
Residential Property
Commercial Property
Retail
Hospitality
Industrial
Office Space
Mixed-Use Development
Facilities Management
Legal
Real Estate
Property Management
Operations
Facilities
Compliance
Administration
Asset Management
Leasing
Contract Management
Property Manager
Real Estate Manager
Facilities Manager
Legal Counsel
Leasing Manager
Asset Manager
Operations Manager
Contract Administrator
Real Estate Director
Compliance Officer
Property Administrator
Tenant Relations Manager
Building Manager
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