The Termination Of Farm Lease Agreement is a crucial document used when both parties agree to end an agricultural tenancy before its natural expiration, or when confirming the terms of an ending tenancy. Under English and Welsh law, it must comply with either the Agricultural Holdings Act 1986 or the Agricultural Tenancies Act 1995, depending on when the original lease was created. This document outlines the termination date, handles matters such as compensation for improvements, addresses environmental scheme commitments, and ensures all statutory requirements are met. It's particularly important for protecting both parties' interests and providing clear documentation of the agreed termination terms.
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1. Parties: Identification of landlord and tenant, including full legal names and addresses
2. Background: Details of original lease agreement, including date and term
3. Definitions: Key terms used in the agreement
4. Termination Date: Specific date when the lease will terminate
5. Mutual Agreement: Statement of mutual agreement to terminate
6. Outstanding Obligations: List of any remaining obligations to be fulfilled
7. Execution: Signing provisions and witness requirements
1. Compensation Provisions: Used when there are improvements or damages to be compensated - applicable when either party is entitled to compensation
2. Environmental Schemes: Provisions regarding ongoing environmental commitments - applicable when the farm is part of environmental stewardship schemes
3. Succession Rights: Provisions regarding termination of succession rights - applicable for pre-1995 tenancies with succession rights
1. Schedule of Condition: Documents the condition of the property at termination
2. Schedule of Dilapidations: List of repairs or maintenance required before termination
3. Schedule of Improvements: List of improvements made by tenant requiring compensation
4. Original Lease: Copy of the original lease agreement being terminated
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