Mutual Termination of Lease Tenancy
This Mutual Termination of Lease Tenancy is used when both parties agree to release each other from the lease agreement before the actual ending date.
Document Last Modified: 10/12/2015
The Mutual Termination of Lease Tenancy form will allow for the delicate handling of such a situation where both the landlord and tenant each release the other from the lease commitment. Typically, in these special situations, there is an early termination fee associated.
This addendum creates an agreement between the landlord and tenant to be released from the obligations of the lease at an earlier date than specified within the original agreement. When creating this form the Document Builder Wizard will ask for some additional information like the lease signing date, early termination date, early termination fee, and the day the fee is due. This form is for a tenant who agrees to be released early from the lease agreement. If a landlord decides to use this form, it becomes an addendum to the original lease; changing the terms of the ending date. The landlord should give this to the tenant after he/she has come to amicable terms regarding a release from the obligations of the lease agreement at an earlier date than originally specified.
Reminder: Print and sign two copies of this Agreement, one for the landlord and the tenant. Additionally, be sure to obtain a copy signed by the tenant. This should be attached and kept with the original lease agreement.
Note: This Mutual Termination of Lease Tenancy may be used under any circumstance where both parties have agreed to terminate the lease for any reason.
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