Commercial Lease Termination Agreements

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This agreement terminates a commercial lease before the expiration of the lease term.

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A commercial lease agreement involves the lease of real property for business purposes, such as a store, office, or commercial building. At the end of the lease term, the tenant vacates the premises, or the parties may opt to extend the lease term. However, under certain circumstances, the parties may wish to end the lease prior to the expiration of the lease term. In this case, the landlord and tenant should utilize a Commercial Lease Termination Agreement.

This agreement is a written record of the parties' agreement to end the lease early and also allows the parties to incorporate by reference controlling provisions of the original commercial lease agreement. This agreement will enable the parties to avoid any future problems and misunderstandings surrounding the termination.

Among others, this form includes the following provisions:
  • Termination of the Lease
  • Termination Fees
  • Obligations under the Lease
  • General Provisions
This attorney-prepared packet includes:
  1. Instructions and Checklist
  2. General Information
  3. Commercial Lease Termination Agreement
Law Compliance: This form complies with all state laws
Number of Pages6
DimensionsDesigned for Letter Size (8.5" x 11")
EditableYes (.doc, .wpd and .rtf)
UsageUnlimited number of prints
Product number#34012
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.















Commercial Lease Termination Agreement


  









This Packet Includes:
1. Instructions and Checklist
2. General Information
3. Commercial Lease Termination Agreement





Instructions and Checklist
Commercial Lease Termination Agreement

   The Landlord and the Tenant must sign the Termination.

   Generally both the Landlord and the Tenant will each want an original, signed copy of Termination. Therefore, if there is one Landlord and one Tenant, two original Terminations should be executed (i.e. signed).

   These forms contain the basic terms and language that should be included in similar agreements. The laws in some states require additional provisions.  Check with a real estate agent or attorney in your area to determine whether additional provisions, if any, are required in your state or locality

   Laws vary from time to time and from state to state. These forms are not intended and are not a substitute for legal advice. These forms should only be a starting point for you and should not be used or signed before first consulting with an attorney to ensure that it addresses your particular situation. An attorney should be consulted before negotiating any document with another party.

   The purchase and use of these forms is subject to the “Disclaimers and Terms of Use” found at www.findlegalforms.com





General Information
Commercial Lease Termination Agreement

A commercial lease agreement involves the lease of real property for business purposes, such as a store, office, or commercial building.  A commercial lease agreement is typically made for a fixed term (e.g. one year).  At the end of the lease term, the tenant vacates the premises, or the parties may opt to extend the lease term.  However, under certain circumstances, the parties may wish to end the lease prior to the expiration of the lease term.  In this case, the landlord and tenant should utilize a Commercial Lease Termination Agreement.

A Commercial Lease Termination Agreement is simply a written record of the parties' agreement to end the lease early.  This agreement also allows the parties to incorporate by reference controlling provisions of the original commercial lease agreement, such as provisions pertaining to payments and taxes, the security deposit, permitted use of the premises, etc.  In addition, the parties may specify any applicable fee for early termination.  Most importantly, the agreement will enable the parties to avoid many future problems and misunderstandings surrounding the termination.

Many states and localities also have different laws relating to leases, so landlords and tenants should become familiar with the laws of their state and locality before entering into this type of arrangement. In addition, before using the form you should always consult with your attorney to ensure that it addresses your specific situation.





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COMMERCIAL LEASE TERMINATION AGREEMENT


This Commercial Lease Termination Agreement (the “Termination”) is dated as of ____________________, 20____, by and between ____________________________________ (“Landlord”) and _____________________________________________________________ (“Tenant”) (collectively the “Parties”).

RECITALS

I.   WHEREAS, Landlord and Tenant entered into a Commercial Lease Agreement (the "Lease") dated _________________, 20__ regarding the property located at ________________________________________________________ (the “Premises”) for a term commencing on _________________, 20__, and ending on _________________, 20__ (the "Initial Lease Term.")

II.   WHEREAS, the Parties wish to terminate the Lease early, prior to the expiration of the Initial Lease Term.
NOW, THEREFORE, in consideration of the faithful performance of the obligations set forth herein, and other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:
TERMS


1.   TERMINATION:  The Lease shall terminate on _______________, 20___ (the “New Termination Date”).  On or before the New Termination Date, Tenant shall quit and surrender the Premises to Landlord.  Tenant shall return all keys and similar items relating to the Premises at this time.  If the New Termination Date does not end on the last day of the month, the rent for the relevant month will be prorated accordingly.

2.   TERMINATION FEES:  On or before the New Termination Date, Tenant will pay Landlord the amount of _____________________ Dollars ($__________) in consideration for the early termination of the Lease.  (If there are no early termination fees, write $0.)

3.   OBLIGATIONS UNDER THE LEASE:  All terms, conditions and obligations of the Lease remain in effect through the New Termination Date, except for those provisions of the Lease that are directly contradicted by this Termination, in which event the terms of this Termination shall control over the Lease.  On the New Termination Date and upon the surrender of the Premises by the Tenant, Landlord releases Tenant from his/her/its continuing obligation under the Lease to pay rent.



4.   GENERAL PROVISIONS:

(a)   Severability.  If any part or parts of this Termination shall be held unenforceable for any reason, the remainder of this Termination shall continue in full force and effect.  If any provision of this Termination is deemed invalid or unenforceable by any court of competent jurisdiction, and if limiting such provision would make the provision valid, then such provision shall be deemed to be construed as so limited.

(b)   Binding Effect.  The covenants and conditions contained in this Termination shall apply to and bind the Parties and the heirs, legal representatives, successors and permitted assigns of the Parties.

(c)   Governing Law.  This Termination shall be governed by and construed in accordance with the laws of the State of ______________________.

IN WITNESS WHEREOF the Parties have executed this Termination as of the date first written above.

LANDLORD:               TENANT:            

_______________________________      ______________________________
Signature                  Signature

_______________________________      ______________________________
Name (please print)               Name (please print)

_______________________________      ______________________________
Title (if applicable)               Title (if applicable)

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Absolutely fine for my requirement. Useful notes and easy to complete with no formatting problems


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