Lease Release Agreement

A Lease Release Agreement is used between a landlord and a tenant, and its purpose is to relinquish a lease agreement. It is an agreement that terminates all rights and obligations of the lease and must be agreed upon by both parties involved.

Purpose

If one party in a lease agreement decides to end the agreement, they must convince the other party to agree to it. If an agreement is made, a Lease Release Agreement is drawn up for legal and protective purposes.

Details

A Lease Release Agreement is a simple agreement stating both party's names and the date. It includes the leased property's address and description, and a copy of the original lease is attached to it. It contains clauses stating the intent for the termination of the lease. It is agreed on by both parties, and when signed, neither party can hold the other responsible for conditions and terms outlined in the original lease. This agreement cancels out terms, obligations and responsibilities outlined in the original lease agreement.

Uses

A landlord may use this agreement if he has other uses for the property. He may want the tenant out to rent the property to another person or for other reasons. A tenant may ask his landlord for a release agreement if he is moving or needs to terminate the lease for some other reason. Neither party is obligated to agree to a Lease Release Agreement if they choose not to.

References

• Tenant Union: Lease Release
• Granite Documents: Stop Looking for a Release of Lease Agreement
• The Lectic Law Library: Termination of Lease Obligation