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Mutual Surrender Of Tenancy Agreement
"I need a Mutual Surrender of Tenancy Agreement for my commercial retail space in Mumbai, where my tenant and I have agreed to terminate the lease early on March 1, 2025, with specific conditions about restoring the premises to its original condition and settling utility bills."
1. Parties: Details of the Landlord/Lessor and Tenant/Lessee, including their full names, addresses, and contact information
2. Background: Information about the original lease agreement, including its date, registration details, and property description
3. Definitions: Definitions of key terms used in the agreement for clarity and legal certainty
4. Mutual Agreement to Surrender: Express statement of both parties' agreement to surrender the lease and terminate the tenancy
5. Effective Date of Surrender: Specific date when the surrender takes effect and the lease terminates
6. Handover of Possession: Terms and conditions for returning possession of the property to the landlord
7. Settlement of Dues: Details of any pending rent, utilities, or other charges and how they will be settled
8. Security Deposit: Terms for the return of the security deposit, including any deductions
9. Release and Discharge: Mutual release from all obligations under the original lease agreement
10. Governing Law: Specification that the agreement is governed by Indian law
11. Execution: Signature clauses and witness requirements
1. Property Inspection: Details of property inspection and condition assessment, used when there are specific concerns about property condition
2. Repairs and Restoration: Obligations regarding repairs or restoration of the property, included when property damages need to be addressed
3. Outstanding Improvements: Handling of any tenant improvements or fixtures, included when tenant has made modifications to the property
4. Third Party Rights: Provisions dealing with any third-party interests or sub-tenancies, used when such arrangements exist
5. Tax Implications: Clauses addressing tax responsibilities, included when there are specific tax considerations
6. Dispute Resolution: Alternative dispute resolution mechanisms, included for complex surrenders or high-value properties
7. Confidentiality: Provisions for maintaining confidentiality, used in commercial or sensitive surrenders
1. Schedule A - Property Details: Detailed description of the property including address, measurements, and boundaries
2. Schedule B - Inventory List: List of fixtures, fittings, and items included in the property handover
3. Schedule C - Outstanding Payments: Detailed breakdown of any pending payments, including rent, utilities, or other charges
4. Schedule D - Property Inspection Report: Detailed report of the property's condition at the time of surrender
5. Appendix 1 - Original Lease Agreement: Copy of the original lease agreement being surrendered
6. Appendix 2 - Handover Checklist: Checklist for property handover process and requirements
Authors
Real Estate
Commercial Property
Residential Property
Retail
Industrial
Office Space
Hospitality
Education
Healthcare
Manufacturing
Legal
Real Estate
Facilities Management
Operations
Property Management
Asset Management
Compliance
Contract Administration
Risk Management
Property Services
Property Manager
Real Estate Manager
Facilities Manager
Legal Counsel
Corporate Lawyer
Leasing Manager
Asset Manager
Property Administrator
Real Estate Director
Operations Manager
Compliance Officer
Contract Manager
Tenant Relations Manager
Real Estate Portfolio Manager
Housing Officer
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