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Lease Release Form (Termination of Lease Obligation) |
The lease release form (termination of lease obligation) is a legal document that by negotiation and financial settlement for monetary payment from the lessee to the lessor, discontinue the lease and both parties walk away from the previous agreement, held harmless from any further action.
Once the document has been completed, signed and dated by both parties, the lease will be immediately completed and the lessee must make the property immediately available to the lessor. The lessee will surrender all rights to the property and it’s premises.
This is a legal document that is enforceable in a court of law for or against both parties.
How to Write
Step 1 – Download in Adobe PDF (.pdf).
Step 2 – The Parties –
- The Lessor must date the document in mm/dd/yyyy format
- Enter the lessor’s name
- Complete address
- City
- County
- State
- AND
- Enter the name of the lessee
- Their complete current address
- City
- County
- State
Step 3 – The Agreement –
- Enter the date in which the document has been executed in mm/dd/yyyy format
- Enter the complete address of the property location of which the lease is being severed
- The lessor, must provide an attached copy of the original lease
- The lessor must enter the facts and cause of the release of the lease (ie: lessee must leave the state for other employment, infractions caused by lessee contrary to the original lease agreement that could not be settled, illegal activity, sale of the property etc.)
- Enter the amount of the monetary sum that the lessee agrees to pay and will be acknowledged by the lessor (if any)
- Read the remaining paragraphs
Step 4 – Signatures –
- The parties shall witness the signature of the other
- Date the signatures in mm/dd/yyyy format
- The lessor must submit their signature
- The lessee must submit their signature
Copies should be made by the lessor, providing the original to the lessee
