Security Deposit Release Form

Security Deposit Release Form Template for Singapore

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Key Requirements PROMPT example:

"Need a Security Deposit Release Form for a 3-bedroom condo at 123 Orchard Road, Singapore, where I'm returning $5,000 to the tenant with a $200 deduction for repairs, to be executed by March 15, 2025."

Document background

The Security Deposit Release Form is a crucial document used in Singapore's property rental market when concluding a tenancy agreement. It serves as formal documentation of the security deposit return process, protecting both landlord and tenant interests. The form should be used when a tenant vacates a property and the landlord agrees to return the security deposit, either in full or partially. It includes essential details such as property information, deposit amount, any deductions made, and confirmation that both parties agree to the terms of release. This document helps prevent future disputes and provides clear evidence of the transaction's completion under Singapore law.

Suggested Sections

1. Property Details: Address and identification of the property subject to the deposit release

2. Parties Information: Full legal names and addresses of landlord and tenant

3. Deposit Amount: Statement of original security deposit amount and date paid

4. Release Declaration: Formal statement declaring the release of security deposit and mutual discharge of obligations

5. Property Condition Statement: Confirmation of satisfactory property condition upon final inspection

Optional Sections

1. Deductions Section: Itemized list of any deductions made from the security deposit with explanations

2. Utility Settlement: Confirmation of settlement of all utility bills and outstanding payments

3. Keys Return: Confirmation of return of all keys and access devices

4. Dispute Resolution: Terms for resolving any future disputes regarding the release

Suggested Schedules

1. Schedule A - Property Inspection Report: Detailed report documenting the condition of the property at the time of release

2. Schedule B - Photographic Evidence: Dated photographs showing the condition of the property

3. Schedule C - Utility Bills: Copies of final utility bills showing full settlement

4. Schedule D - Deduction Receipts: Receipts or invoices supporting any deductions made from the deposit

Authors

Alex Denne

Head of Growth (Open Source Law) @ ��Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate
Residential Housing
Commercial Property
Property Development

Relevant Teams

Real Estate
Legal
Finance
Operations
Administration

Relevant Roles

Property Manager
Real Estate Agent
Leasing Manager
Property Administrator

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Let's create your Security Deposit Release Form

Authors

Alex Denne

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