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Deposit Release Form

Deposit Release Form Template for Hong Kong

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Key Requirements PROMPT example:

Deposit Release Form

"I need a Deposit Release Form for a residential property in Hong Kong where I'm returning a full security deposit of HKD 30,000 to my tenant who is moving out on March 15, 2025, with no deductions."

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Document background
The Deposit Release Form is a crucial document in Hong Kong's property rental ecosystem, used when a tenancy is terminating and the security deposit needs to be returned. This document helps prevent future disputes by clearly documenting the agreed terms of the deposit release, including any deductions for damages or unpaid rent. The form should be used after the final property inspection and when all conditions for deposit return have been met. It typically references the original tenancy agreement and includes details about the property, the deposit amount, and any deductions. The document must comply with Hong Kong's property laws and regulations, particularly the Landlord and Tenant (Consolidation) Ordinance, and can be used for both residential and commercial properties.
Suggested Sections

1. Identification of Parties: Names, addresses, and roles (landlord/tenant) of all parties involved

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

3. Original Agreement Reference: Details of the original tenancy agreement including date and deposit amount paid

4. Deposit Amount and Payment Details: Confirmation of the deposit amount to be released and payment method

5. Release Declaration: Formal statement of agreement to release the deposit

6. Settlement Statement: Confirmation that this represents full and final settlement

7. Execution Block: Signature sections for all parties with date

Optional Sections

1. Deductions Section: Details of any agreed deductions from the deposit, to be included when there are authorized deductions

2. Dispute Resolution: To be included when there is a partial release or disputed amount

3. Interest Calculation: Required when interest has accrued on the deposit and needs to be included in the release

4. Conditional Release Terms: Used when the release is subject to certain conditions being met

5. Third Party Authorization: Required when payment is to be made to someone other than the original tenant

Suggested Schedules

1. Schedule of Deductions: Itemized list of any deductions made from the deposit with reasons

2. Property Condition Report: Final inspection report confirming the condition of the property

3. Photographic Evidence: Photos documenting the property condition at surrender

4. Payment Details Form: Banking or payment information for deposit return

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

Property Management

Residential Property

Commercial Property

Retail

Hospitality

Industrial

Office Space

Student Housing

Serviced Apartments

Relevant Teams

Legal

Property Management

Real Estate Operations

Tenant Relations

Facilities Management

Asset Management

Compliance

Administration

Operations

Contract Management

Relevant Roles

Property Manager

Real Estate Agent

Leasing Manager

Facility Manager

Legal Counsel

Tenant Relations Manager

Asset Manager

Property Administrator

Building Manager

Compliance Officer

Real Estate Operations Manager

Tenancy Administrator

Industries





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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