Insert Pages To Legal Oklahoma Lease Termination Forms For Free

A termination clause is a written provision in an agreement that defines the circumstances under which said agreement can be terminated. Termination can happen before the duties outlined in the agreement are fulfilled.

Early Termination Clause The penalty is often equivalent to two months' rent. Early termination clauses also require a tenant to provide ample notice, usually 30 days.

Tenant may, upon 30 days' written notice to Landlord, terminate this lease provided that the Tenant pays a termination charge equal to 2 months' rent or the maximum allowable by law, whichever is less. Termination will be effective as of the last day of the calendar month following the end of the 30 day notice period.

I wish to inform you that I will be terminating my lease on [date you plan to terminate]. This letter provides the necessary notice of [required notice] as outlined in the lease. I will move out my belongings and return my keys to [address of property management office] by [date you plan to terminate].

Written Notice: In Oklahoma, a tenant must provide the landlord with a specific amount of written notice prior to breaking a lease. For month-to-month leases, a 30 days notice is required. If the lease is less than month-to-month, then the notice must be for at least 7 days.

There are two basic types of termination: 1) termination for cause, otherwise known as termination for default; and 2) termination for convenience. A party's right to terminate its contract may originate from the general principles of contract law or it may arise out of the terms of the contract itself.