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Surrender Of Lease Deed

Surrender Of Lease Deed Template for United Arab Emirates

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Key Requirements PROMPT example:

Surrender Of Lease Deed

I need a Surrender of Lease Deed for our retail space in Dubai Mall, UAE, as we're closing operations and need to terminate our 5-year lease early by March 2025; the landlord has agreed but requires specific conditions about property restoration.

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Document background
The Surrender Of Lease Deed is a crucial legal document used in the United Arab Emirates when both landlord and tenant agree to terminate a lease agreement before its scheduled end date. This document is particularly important in the UAE's dynamic property market, where both commercial and residential leases may need early termination due to business changes, relocations, or other circumstances. The deed must comply with UAE Civil Code requirements and specific emirate-level regulations, particularly in Dubai and Abu Dhabi. It typically includes detailed provisions for the surrender process, financial settlements, property condition requirements, and mutual releases from future obligations. The document serves as official evidence of the lease termination and protects both parties' interests by clearly documenting all agreed terms and conditions of the surrender.
Suggested Sections

1. Parties: Details of the Landlord and Tenant, including full legal names, addresses, and any registration numbers for corporate entities

2. Background: Brief recital of the original lease details, property description, and the parties' mutual agreement to surrender

3. Definitions: Definitions of key terms used in the deed including 'Property', 'Original Lease', 'Surrender Date', and 'Settlement Amount'

4. Agreement to Surrender: The core agreement where the tenant surrenders and the landlord accepts the surrender of the lease

5. Effective Date: Specification of the exact date when the surrender takes effect

6. Property Condition: Statement regarding the condition in which the property must be returned

7. Key Handover: Process and timing for returning keys and access devices

8. Financial Settlement: Details of final rent payment, security deposit return, and any other financial settlements

9. Release of Obligations: Mutual release of parties from lease obligations post-surrender

10. Governing Law: Confirmation that the deed is governed by UAE law

Optional Sections

1. Outstanding Repairs: Section detailing any repairs required before surrender, used when property damage needs to be addressed

2. Third Party Consents: Required when third party approval (e.g., mortgagee consent) is needed for the surrender

3. Service Contracts: Section addressing the termination of any service contracts, used when such contracts exist

4. Reinstatement Obligations: Details of any requirement to return the property to its original condition, used for modified commercial properties

5. VAT Provisions: Required when the property is subject to VAT registration

6. Broker Provisions: Used when a real estate broker is involved in facilitating the surrender

Suggested Schedules

1. Schedule 1 - Property Details: Detailed description of the property including address, plot number, and any parking spaces or facilities

2. Schedule 2 - Original Lease Details: Key details from the original lease including date, term, and rent amount

3. Schedule 3 - Financial Settlement Calculation: Detailed breakdown of all financial settlements including rent, deposits, and any deductions

4. Schedule 4 - Inventory: List of any fixtures, fittings or furniture included in the original lease and their condition

5. Appendix A - Property Inspection Report: Current condition report of the property at surrender

6. Appendix B - Handover Checklist: List of items to be completed/checked during the handover process

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
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Relevant Industries

Real Estate

Commercial Property

Retail

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Education

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Relevant Teams

Legal

Real Estate

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Operations

Finance

Compliance

Property Administration

Asset Management

Contract Administration

Risk Management

Relevant Roles

Property Manager

Real Estate Manager

Facilities Manager

Legal Counsel

Corporate Lawyer

Lease Administrator

Asset Manager

Operations Director

Chief Financial Officer

Real Estate Director

Compliance Officer

Property Administrator

Contract Manager

Real Estate Agent

Business Operations Manager

Industries







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Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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