Deed of surrender: any commercial property lease
This is a surrender document to terminate any business lease by mutual agreement. It includes optional provisions for a payment by one party to the other and for all obligations to cease.
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About this document
This deed allows a landlord and a tenant to end a commercial property lease by mutual agreement before the end of the contractual lease term. It can be used for both registered and unregistered leases.
A surrender may be immediate and simple, but in many cases the landlord will want to be sure that the tenant leaves the premises when required and in the condition required by the lease. This surrender document covers the landlord's position thoroughly.
"Surrender" is simply the legal term for the tenant agreeing to end the lease and leave the property. The document should be executed as a deed because a deed does not require consideration (each party to give something of value).
The document includes options for either party to pay the other for any reason such as:
improvements made by one party to the building during the lease
agreement to end the lease quickly
agreement to leave the property in an agreed state of repair
The reason for the payment is not important and does not need to be specified in the document.
The document includes options for release provisions: conditions that must be met for the lease to be surrendered.
The document is suitable for any commercial property lease: offices, shops, industrial properties and land. It is not suitable for residential property (see this one).
- Details of lease to be surrendered
- Obligation to give up possession
- Obligations for repair
- Tenant has no obligations to Landlord, except as stated
- Landlord has no obligations to tenant except as stated
- Termination: what happens
This document was written by a solicitor for Net Lawman. It complies with current English law.
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