This Agreed Written Termination of Lease by Landlord and Tenant form facilitates an agreed end to a lease between a landlord and tenant, and the surrender of the premises to the Landlord. Special conditions may be added to the text of the form. Following the performance of these conditions (if any), the lease terminates and both parties are released from further liability. For additional information, see the Law Summary below.
Little Rock Arkansas Agreed Written Termination of Lease by Landlord and Tenant is a legal document that outlines the agreement between a landlord and tenant to end the rental lease contract. This termination agreement is a crucial tool to ensure both parties have a mutual understanding and avoid future disputes. When it comes to Little Rock, Arkansas, some specific types of Agreed Written Termination of Lease by Landlord and Tenant may include: 1. Early Termination Agreement: This type of agreement occurs when both the landlord and tenant agree to end the lease before the agreed-upon term. It may be due to various reasons, such as a job transfer, personal circumstances, or a disagreement between the parties. 2. Lease Termination Due to Sale or Purchase: In some cases, if the property is being sold to a new owner, both the landlord and tenant may agree to terminate the lease. This agreement ensures that the tenant vacates the property to accommodate the new owner's plans. 3. Mutual Agreement Termination: Sometimes, both parties enter into an agreement to terminate the lease due to reasons that benefit both parties. This could be a result of changes in circumstances or if both parties believe it is in their best interest to terminate the lease. The Little Rock Arkansas Agreed Written Termination of Lease by Landlord and Tenant typically includes the following information: 1. Details of the involved parties: The names and contact information of the landlord and the tenant are mentioned. 2. Lease information: This includes the address of the rental property, lease start and end dates, and the lease term. 3. Agreement details: The agreement clearly states that both parties have reached a mutual decision to terminate the lease and agree to release each other from any further obligations under the lease agreement. 4. Termination date: The specific date on which the lease will be terminated should be clearly stated. 5. Rent and Security Deposit: The agreement may clarify the process of refunding or forfeiting any remaining rent and refunding the security deposit after necessary deductions, if applicable. 6. Property Condition: The agreement may require the tenant to return the premises in the same condition as at the start of the lease, or outline any exceptional conditions related to property maintenance. 7. Signatures and Witnesses: Both the landlord and tenant should sign and date the agreement, often in the presence of witnesses, which adds legal validity to the document. It is important to consult legal counsel or a real estate professional when drafting or entering into an Agreed Written Termination of Lease by Landlord and Tenant contract.
