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Deposit Release Form Template for England and Wales

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Key Requirements PROMPT example:

Deposit Release Form

"I need a Deposit Release Form for returning a £2,500 deposit to a tenant who is vacating my London property on March 15, 2025, with £300 in agreed deductions for repairs to the kitchen counter."

Document background
The Deposit Release Form is essential documentation used when concluding a tenancy agreement in England and Wales. It becomes necessary when both parties have agreed on the terms of the deposit return, whether in full or with deductions. The form provides clear documentation of the deposit amount, any deductions made, and the final sum to be returned. It complies with deposit protection legislation and helps prevent future disputes by creating a clear record of the agreement. This document is particularly important as it provides protection for both landlord and tenant, ensuring transparency and compliance with legal requirements regarding deposit returns.
Suggested Sections

1. Property Details: Address and description of the property related to the deposit

2. Parties Information: Details of landlord/agent and tenant(s)

3. Deposit Amount: Original deposit amount and any deductions

4. Release Confirmation: Statement confirming agreed release of deposit

5. Payment Details: Bank details or payment method for deposit return

Optional Sections

1. Deductions Schedule: Detailed breakdown of any deductions from deposit - use when there are agreed deductions from the deposit

2. Dispute Resolution: Terms regarding resolution of any disputes - use when parties want to include specific dispute resolution processes

3. Third Party Authorization: Authorization for third party to receive deposit - use when deposit is to be paid to someone other than the tenant

Suggested Schedules

1. Schedule of Deductions: Itemized list of deductions with supporting evidence

2. Schedule of Condition: Reference to final property inspection report

3. Supporting Documents: Copies of relevant documentation (e.g., original deposit protection certificate)

Authors

Alex Denne

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

Relevant legal definitions














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Relevant Industries
Relevant Teams
Relevant Roles
Industries

Housing Act 2004: Primary legislation introducing tenancy deposit protection schemes in Part 6, setting out requirements for protecting deposits and handling disputes

Tenancy Deposit Scheme Regulations 2007: Regulations detailing the operation of deposit protection schemes and procedures for deposit returns and dispute resolution

Housing (Tenancy Deposits) (Prescribed Information) Order 2007: Statutory instrument specifying the information that must be provided to tenants regarding their deposit

Landlord and Tenant Act 1985: Fundamental legislation establishing general obligations between landlords and tenants, providing context for deposit returns

Consumer Rights Act 2015: Legislation governing fairness of terms in consumer contracts and transparency requirements

Data Protection Act 2018 and UK GDPR: Data protection legislation setting requirements for handling personal information, consent, and privacy considerations

Limitation Act 1980: Legislation establishing time limits for making claims related to deposits

Contract Law principles: Common law principles governing contract formation and execution, including requirements for valid agreements

Teams

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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