Lease Termination Agreement

Purpose: This Lease Termination Agreement documents the mutual decision between the landlord and the tenant to end an active lease before its originally agreed expiration date. All involved parties should review the terms and conditions below carefully.

1. Parties

This Lease Termination Agreement (“Agreement”) is entered into on {terminationDate} by and between:

• Landlord: {landlordName}, residing at {landlordAddress}
• Tenant: {tenantName}, residing at {tenantAddress}

2. Lease Details

The parties entered into a lease agreement dated {originalLeaseDate} for the property located at {propertyAddress}.

This lease was originally set to expire on {originalEndDate}. However, the parties wish to terminate the lease early under the terms set forth in this Agreement.

3. Termination Date

The lease shall officially terminate on {terminationDate}. The tenant must vacate the premises by this date and return all keys and access devices to the landlord.

4. Condition of Premises

Tenant agrees to leave the premises in good condition, subject to reasonable wear and tear. Any damages beyond normal use will be deducted from the security deposit.

5. Security Deposit

The landlord agrees to return the security deposit of {securityDepositAmount} to the tenant within {refundPeriod} days of the termination date, subject to the satisfactory condition of the premises and any deductions for damage.

6. Final Utility Payments

Tenant agrees to pay all utility charges owing up to the termination date including, but not limited to: electricity, gas, water, and trash services.

7. Outstanding Payments

{^hasOutstandingPayments}There are no outstanding payments remaining between the parties.{/hasOutstandingPayments}

{#hasOutstandingPayments} The tenant agrees to pay the outstanding amount of {outstandingAmount} by {paymentDueDate}. Failure to make payment by this date may result in further collection actions. {/hasOutstandingPayments}

8. Agreement by Both Parties

Both parties acknowledge and agree to the terms of this Lease Termination Agreement. By signing below, they confirm that this agreement is made voluntarily and without coercion.

9. Signatures

10. Additional Notes

{^hasAdditionalNotes}No additional notes provided.{/hasAdditionalNotes}

{#hasAdditionalNotes}{additionalNotes}{/hasAdditionalNotes}

This document becomes legally binding when signed by both parties.