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Early Termination Of Lease Agreement Form

Early Termination Of Lease Agreement Form Template for England and Wales

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Key Requirements PROMPT example:

Early Termination Of Lease Agreement Form

"I need an Early Termination Of Lease Agreement Form for a commercial property in Manchester, where the tenant has requested to end their 5-year lease early on March 1, 2025, due to business relocation, and we've agreed to waive the break fee."

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Document background
The Early Termination Of Lease Agreement Form is a essential legal document used when both parties agree to end a lease before its scheduled completion date. This document, governed by English and Welsh law, provides a formal framework for terminating the lease early while protecting the interests of all parties involved. It includes crucial details such as the termination date, financial settlements, property condition requirements, and the process for returning keys and security deposits. The form ensures compliance with relevant legislation including the Landlord and Tenant Act 1985 and the Housing Act 1988.
Suggested Sections

1. Parties: Details of landlord and tenant, including full legal names, addresses, and contact information

2. Background: Reference to original lease agreement, its date, and the mutually agreed reason for early termination

3. Definitions: Key terms used in the agreement including 'Property', 'Original Lease', 'Termination Date', and other relevant definitions

4. Termination Date: Specific date when the lease will terminate and confirmation of mutual agreement to this date

5. Financial Settlement: Terms of any payment or refund arrangements, including final rent calculation and any pro-rata adjustments

6. Property Handover: Conditions for returning the property, including cleaning requirements and key return process

Optional Sections

1. Break Fee: Details of any early termination fee and payment terms, if applicable under the original lease

2. Deposit Arrangements: Terms for the return of security deposit, including timeline and conditions for return

3. Outstanding Obligations: Provisions for handling any remaining tenant obligations or ongoing maintenance issues

4. Utilities and Council Tax: Arrangements for final meter readings and transfer of utility accounts

Suggested Schedules

1. Schedule 1: Property Inventory: Detailed list of property contents and their condition at termination

2. Schedule 2: Outstanding Payments: Comprehensive list of any unpaid rent, charges, or other financial obligations

3. Appendix A: Original Lease: Copy of the original lease agreement for reference

4. Appendix B: Property Inspection Report: Detailed assessment of property condition at termination

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
Relevant legal definitions




























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Relevant Industries
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Relevant Roles
Industries

Landlord and Tenant Act 1985: Primary legislation governing landlord and tenant relationships, setting out basic rights and obligations

Landlord and Tenant Act 1987: Additional legislation covering tenants' rights and landlord obligations in England and Wales

Housing Act 1988: Key legislation governing Assured Shorthold Tenancies (ASTs) and tenant protection measures

Law of Property Act 1925: Fundamental property law legislation that governs legal interests in land and property

Consumer Rights Act 2015: Legislation protecting consumer rights, particularly relevant for residential tenancies

Tenant Fees Act 2019: Regulations governing security deposits and permitted fees that can be charged to tenants

Break Clause Requirements: Specific provisions in the original lease allowing for early termination and associated conditions

Notice Period Regulations: Mandatory notice periods required under law and the original lease agreement

Tenancy Deposit Protection Schemes: Legal requirements for protecting and returning tenant deposits

Energy Performance Certificate Requirements: Legal obligation to provide valid EPC for rental properties

Gas Safety Regulations 1998: Requirements for gas safety certificates and inspections in rental properties

Electrical Equipment Regulations 1994: Safety requirements for electrical installations and equipment in rental properties

Housing Health and Safety Rating System: System for assessing health and safety hazards in residential properties

Financial Settlement Provisions: Requirements for handling rent adjustments, deposit returns, and other financial matters upon early termination

Property Inspection Protocols: Legal requirements and best practices for conducting final property inspections

Utility Transfer Procedures: Legal obligations regarding final meter readings and transfer of utility responsibilities

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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