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Early Release Tenancy Agreement

Early Release Tenancy Agreement Template for India

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Key Requirements PROMPT example:

Early Release Tenancy Agreement

"I need an Early Release Tenancy Agreement for my residential property in Mumbai, where my tenant and I have mutually agreed to terminate the lease on March 1, 2025, instead of the original end date of July 2025, with specific terms for the security deposit return."

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Document background
The Early Release Tenancy Agreement is designed for use in situations where both landlord and tenant mutually agree to terminate a tenancy before its originally scheduled end date. This document is particularly relevant in the Indian property market, where changing circumstances such as job relocations, property sales, or personal situations may necessitate early termination of a lease. It includes essential provisions required under Indian law, including compliance with the Transfer of Property Act and state-specific rental regulations. The agreement comprehensively addresses key aspects such as deposit returns, final utility settlements, property condition requirements, and mutual release terms, providing a clear framework for early termination while minimizing the risk of future disputes.
Suggested Sections

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

2. Background: Context of the agreement, including reference to the original tenancy agreement and reason for early release

3. Definitions: Key terms used throughout the agreement and their specific meanings

4. Early Release Terms: Specific conditions and date for early termination of the tenancy

5. Financial Settlement: Details of any financial adjustments, including rent payments, deposit return, and any early termination fees

6. Property Inspection: Requirements for final property inspection and condition assessment

7. Handover Requirements: Specific conditions for returning the property, including cleaning, repairs, and key return

8. Mutual Release: Terms releasing both parties from future obligations under the original tenancy agreement

9. Governing Law: Specification that the agreement is governed by Indian law and the relevant state jurisdiction

10. Execution: Signature blocks and execution requirements for all parties

Optional Sections

1. Utility Transfers: Procedures for transferring or terminating utility accounts, used when utilities are in tenant's name

2. Forwarding Address: Tenant's new address details, included when needed for future correspondence or deposit return

3. Outstanding Repairs: List of pending repairs and responsibilities, included when there are unresolved maintenance issues

4. Third Party Notifications: Requirements for notifying relevant third parties, included when there are registered interests or required notifications

5. Substitute Tenant: Terms regarding finding a replacement tenant, included when this is part of the early release agreement

Suggested Schedules

1. Schedule 1 - Property Inventory: Detailed list of property condition and contents at the time of early release

2. Schedule 2 - Financial Statement: Breakdown of all financial calculations including rent, deposit, and any deductions

3. Schedule 3 - Original Tenancy Agreement: Copy or reference to the original tenancy agreement being terminated

4. Appendix A - Property Photographs: Dated photographs documenting the property condition at release

5. Appendix B - Utility Readings: Final meter readings for electricity, water, and gas where applicable

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






























Clauses






























Relevant Industries

Real Estate

Residential Property

Commercial Property

Property Management

Legal Services

Housing

Property Development

Retail Property

Office Space

Student Accommodation

Relevant Teams

Legal

Property Management

Real Estate

Facilities

Operations

Compliance

Administrative Services

Tenant Relations

Asset Management

Document Management

Relevant Roles

Property Manager

Real Estate Agent

Legal Counsel

Housing Officer

Tenancy Relations Officer

Estate Manager

Leasing Manager

Property Administrator

Facilities Manager

Real Estate Lawyer

Compliance Officer

Housing Association Manager

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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