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Dissolution Of Lease Agreement

Dissolution Of Lease Agreement Template for Singapore

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Key Requirements PROMPT example:

Dissolution Of Lease Agreement

"I need a Dissolution of Lease Agreement for my retail space in Singapore, where both parties have agreed to terminate the lease early due to renovation works in the building, with the termination date set for March 15, 2025, and specific provisions needed for the removal of tenant's fixtures and fittings."

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Document background
A Dissolution Of Lease Agreement is used when both parties mutually agree to terminate their lease arrangement before its natural expiration. This document is particularly relevant in Singapore's dynamic property market, where changing business conditions or personal circumstances may necessitate early lease termination. The agreement protects both parties by clearly documenting the termination terms, financial settlements, and release of future obligations. It must comply with Singapore's property laws and regulations, including the Conveyancing and Law of Property Act and relevant provisions of the Civil Law Act.
Suggested Sections

1. Parties: Identification of landlord and tenant with full legal names and addresses

2. Background: Details of original lease agreement and reasons for dissolution

3. Definitions: Key terms used in the agreement defined for clarity

4. Termination Date: Specific date when lease will be terminated

5. Settlement of Accounts: Handling of security deposit, outstanding rent, and utilities

6. Release of Obligations: Mutual release from lease obligations

Optional Sections

1. Property Inspection: Terms and conditions for final inspection and acceptance of the property condition

2. Outstanding Repairs: Agreement on handling any required repairs or restoration works

3. Third Party Rights: Provisions dealing with any third-party interests in the lease such as subletting or assignment rights

Suggested Schedules

1. Schedule 1: Property Details: Detailed description of the leased property including address and specific features

2. Schedule 2: Original Lease Agreement: Copy or reference to the original lease agreement being dissolved

3. Schedule 3: Settlement Calculations: Detailed breakdown of financial settlements including deposit returns and outstanding payments

4. Appendix A: Property Inspection Report: Final condition report of the property including photographs and damage assessment if any

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
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Industries

Conveyancing and Law of Property Act (Cap. 61): Primary legislation governing property transactions and real estate matters in Singapore, including lease agreements and their termination

Civil Law Act (Cap. 43): Fundamental legislation governing contractual relationships and civil obligations in Singapore, which applies to lease terminations

Planning Act (Cap. 232): Regulates land use and property development, which may affect the terms of lease dissolution particularly for commercial properties

Land Titles Act (Cap. 157): Governs the registration and transfer of land titles in Singapore, relevant for proper documentation of lease terminations

Control of Rent Act: Though repealed, its principles may still be relevant in understanding landlord-tenant relationships in Singapore

Housing and Development Act: Crucial when dealing with HDB properties, setting specific requirements for lease terminations in public housing

Building Maintenance and Strata Management Act: Applies to strata-titled properties, governing management and maintenance obligations during lease termination

Residential Property Act: Specific provisions for residential property transactions and lease terminations in Singapore

COVID-19 (Temporary Measures) Act 2020: Temporary legislation affecting lease obligations and termination procedures during the pandemic period

Common Law Principles - Contract Law: Legal principles governing contract termination, mutual agreement, and discharge of obligations

Common Law Principles - Property Law: Fundamental principles regarding property rights, possession, and transfer during lease termination

Stamp Duties Act (Cap. 312): Governs the proper stamping and documentation requirements for lease termination agreements

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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