The Tenant Release Of Liability agreement is a crucial document used in the Philippines when formally ending a landlord-tenant relationship and ensuring both parties are protected from future claims or liabilities. This document becomes necessary when terminating a lease agreement, whether at its natural conclusion or through early termination by mutual consent. It must comply with Philippine civil law, particularly the Civil Code of the Philippines and the Rent Control Act, and should address key aspects such as property condition, financial settlements, and mutual releases. The agreement is particularly important in situations where there might be potential disputes or when parties need clear documentation of the lease termination for legal or administrative purposes. It serves as evidence that all obligations have been met and that neither party has any remaining claims against the other.
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1. Parties: Identifies and provides full details of the Landlord/Lessor and Tenant/Lessee, including complete names, addresses, and contact information
2. Background: Outlines the existing lease agreement details, including date of original lease, property description, and reason for the release
3. Definitions: Defines key terms used throughout the agreement including 'Property', 'Lease Agreement', 'Release Date', and other relevant terms
4. Release Terms: Specifies the exact nature and scope of the release, including what obligations are being discharged
5. Effective Date: States when the release becomes effective and any conditions precedent
6. Settlement of Accounts: Details the settlement of any outstanding rent, utilities, deposits, and other financial obligations
7. Property Condition: Describes the current condition of the property and any agreed repairs or restoration requirements
8. Mutual Release: Contains language releasing both parties from future claims related to the tenancy
9. Governing Law: Specifies that Philippine law governs the agreement and relevant jurisdiction
10. Execution: Signature block with space for dates, witnesses, and notarization as required under Philippine law
1. Return of Security Deposit: Used when there is a security deposit to be returned, specifying amount and terms of return
2. Outstanding Repairs: Include when there are specific repair obligations that need to be addressed before release
3. Third-Party Claims: Added when there are potential claims from third parties that need to be addressed
4. Confidentiality: Include when parties wish to keep the terms of the release confidential
5. Survival Clause: Used when certain obligations need to survive the release
6. Dispute Resolution: Include when parties want to specify alternative dispute resolution methods
7. Assignment of Rights: Added when there are rights or obligations being assigned to third parties
1. Schedule A - Property Details: Detailed description of the rental property including address and specific unit information
2. Schedule B - Inventory List: List of any furniture, fixtures, or equipment included in the original lease and their current condition
3. Schedule C - Financial Settlement: Detailed breakdown of all financial settlements including deposits, refunds, and outstanding payments
4. Schedule D - Inspection Report: Property inspection report documenting the condition at the time of release
5. Appendix 1 - Original Lease Agreement: Copy of the original lease agreement being terminated
6. Appendix 2 - Photographic Evidence: Photos documenting the property condition at the time of release
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Office Space
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Relevant Teams
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Facility Management
Risk Management
Compliance
Asset Management
Tenant Relations
Operations
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Contract Management
Relevant Roles
Property Manager
Real Estate Manager
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Property Administrator
Leasing Manager
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Real Estate Attorney
Tenant Relations Manager
Building Manager
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