The Termination of Land Lease Agreement is a crucial document used in Malaysian property transactions when parties mutually agree to end their lease arrangement before its natural expiration, or when the lease reaches its term. This document is essential for compliance with Malaysian property law, particularly the National Land Code 1965, and helps prevent future disputes by clearly documenting the termination terms, property handover requirements, and settlement of obligations. It's commonly used in commercial, industrial, and agricultural settings, requiring careful consideration of existing property conditions, outstanding payments, and regulatory requirements. The agreement provides legal protection for all parties involved and ensures proper documentation for land administration authorities.
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1. Parties: Identification of the Lessor and Lessee with full legal names, registration numbers (if companies), and addresses
2. Background: Recitals detailing the original lease agreement, its date, registration details, and brief description of the leased property
3. Definitions: Definitions of key terms used in the agreement, including 'Effective Date', 'Property', 'Original Lease', and other relevant terms
4. Termination: Clear statement of mutual agreement to terminate the lease, specifying the effective date of termination
5. Handover of Property: Details of the property handover process, condition requirements, and timeline
6. Settlement of Accounts: Provisions for final settlement of any outstanding rent, utilities, or other payments
7. Mutual Release: Mutual release of claims and obligations related to the lease agreement
8. Return of Security Deposit: Terms for the return of security deposit, including any deductions if applicable
9. Governing Law: Specification that the agreement is governed by Malaysian law
10. Execution: Signature blocks for all parties and witnesses as required under Malaysian law
1. Outstanding Works: Include when there are pending repairs or restoration works to be completed before handover
2. Existing Subleases: Include when there are existing sub-tenants and arrangements for their tenancies
3. Surviving Provisions: Include when certain provisions from the original lease need to survive the termination
4. Tax Matters: Include when there are specific tax implications or obligations to be addressed
5. Confidentiality: Include when parties wish to maintain confidentiality about the termination terms
6. Third Party Rights: Include when there are third party rights or interests in the property to be addressed
1. Property Details: Detailed description of the property including lot number, title details, and location
2. Original Lease Agreement: Copy or key details of the original lease agreement including its registration particulars
3. Inventory List: List of fixtures, fittings, or equipment to be handed over or removed
4. Outstanding Payments Schedule: Detailed list of any outstanding payments or adjustments to be made
5. Handover Checklist: Checklist of items to be completed and verified during property handover
6. Condition Report: Current condition report of the property to be agreed upon by both parties
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Agriculture
Industrial Manufacturing
Commercial Property
Retail
Hospitality
Logistics
Construction
Mining
Education
Relevant Teams
Legal
Real Estate
Property Management
Operations
Facilities Management
Corporate Secretarial
Compliance
Commercial
Asset Management
Administration
Relevant Roles
Property Manager
Legal Counsel
Real Estate Director
Facilities Manager
Land Administrator
Commercial Director
Operations Manager
Asset Manager
Company Secretary
Contract Manager
Legal Manager
Property Development Manager
Estate Manager
Compliance Officer
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