Lease Termination Agreement
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How to draft a proper Lease Termination Agreement? Download this Lease Termination Agreement template that will perfectly suit your needs!
Legal communication is essential to individuals and companies to ensure truthful, accurate information exchange and enable morally correct decision making. This is important to give consideration to how to communicate and how to remain lawful in your day-to-day business activities. Therefore, communication in situations that involve legal complications, request extra attention. Using our easy-to-modify Lease Termination Agreement helps to make a perfect document for any kind of personalized legal matter.
Being a landlord or real estate owner means that you might be dealing with an unpleasant situation you need to formally apply for rescission of a lease agreement. In this case, you can send this formal Notice of Rescission of Lease to inform your tenant about his/her rescission of the lease.
Please note a rescission can be distinctive from a termination since a rescission can be conducted cause of misrepresentation or other circumstances in which rescission may be available to a tenant. Whether restitution is available as a remedy for a misrepresentation or misleading and deceptive conduct will depend on all circumstances. Misrepresentation and misleading and deceptive behavior are complex doctrines of law, on which new legislation is applicable. This makes it more complicated when a serious misrepresentation or
misleading or deceptive conduct has happened to a tenant, which might be the cause to terminate a contract. In any case, we advise looking for professional legal advice to support your case.
This template is still relevant and can be helpful in the next step: to set up the communication between landlord and tenant. Cause, if a party is looking into a possibility to break their lease due to a misrepresentation, the first step that cannot cause any harm, is by sending this formal Notice of Rescission of Lease to the landlord or tenant, which enable the party to terminate the contract immediately.
When can you rescind a tenancy agreement?
In general, when one of the involved parties feels the need to rescind a lease agreement, for example when there has been a fraudulent misrepresentation, or a possibly a reckless/negligent misrepresentation. In the case of rescinding an agreement because of a misrepresentation, the burden of proof will be with the tenant to show that there has been a clear and unequivocal communication of their decision to rescind and to evidence that a misrepresentation sufficient to merit the rescission has occurred.
Legal professionals are in need of templates more than any other industry. Our trustworthy legal templates are all drafted and screened by legal professionals that have experience in special law-related fields and are actively involved in legal issues around the topic. This Lease Termination Agreement template covers the most important subjects and will help you to structure and communicate in a professional and legal way with those involved.
In this case, the tenant’s conduct must be consistent with the decision to rescind the agreement. If a tenant continues to act as if bound by the contract or gain benefit from the contract then the landlord can increasingly engage the defense of affirmation and argue that the tenant has affirmed the contract. If affirmation occurs then the tenant may be rendered liable to a claim for lease break if they later return the keys on the basis of an alleged rescission. Please note, while confirmation may reduce the prospects of rescission and restitution, it does not stop you from trying other remedies, like rectification or damages.
Try out our online Free and Premium Legal templates, forms, and contracts today. We provide several useful templates for landlords and tenants, to exercise their rights in a formal way. Working with our templates guarantees you will save time, costs, and efforts! Using our legal templates will help you to deal with the situation! However, this Legal template will help you dealing with this legal matter, we still recommend you to consider finding legal support in case you have doubts about dealing with it the right way.
Download this professional legal Lease Termination Agreement template now and save yourself time, effort, and possibly reduce the lawyer fees in order to become more successful.
This Lease Termination Agreement is entered into by and between Lessor and the Lessee on the date set forth below.
- On original lease agreement, Lessee and Lessor entered into a lease agreement {{Lease Agreement}} whereby Lessee agreed to lease the property located at {{insert leased address}} from Lessor. The Lease Agreement is attached hereto and incorporated herein.
- Pursuant to section/article/paragraph {{Insert relevant termination section}} of the Lease Agreement, the Lease is hereby terminated as of the date set forth below.
- Lessee agrees to relinquish all rights of possession to the Premises on {{Lease Termination Date}} ... the Lease Agreement as of the Lease Termination Date, except as set forth herein.
- Lessor agrees ....
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