Document background
The Termination of Rental Agreement is a crucial document used in the Malaysian property market when either the landlord or tenant wishes to formally end their rental relationship. It's particularly important as it provides legal protection for both parties under Malaysian law, specifically adhering to the National Land Code 1965 and Contracts Act 1950. This document is typically used when a lease is being terminated either at its natural end, through mutual agreement, or under specific circumstances outlined in the original tenancy agreement. It covers essential elements such as the final settlement of accounts, property handover procedures, and the release of security deposits, while ensuring all parties' rights are protected and obligations are clearly documented. The agreement helps prevent future disputes by clearly stating the terms of separation and mutual release of responsibilities.
