A lease release form is a legal document that discontinues the relationship between a landlord and a tenant as lessee and lessor. In other words, it is a release from the original lease agreement. Lease release forms allow the landlord and the tenant to mutually release each other from their obligations or their liabilities under the lease. Create your lease agreement release template on Lawrina in minutes and download a complete PDF form, ready for signatures and submission.
Choose your type of this legal template. Create & Download Document Types This form becomes essential whenever there's a settlement following a car accident. 1.8K downloads This form protects the parties from potential lawsuits in case of accidents or damage. 2.4K downloads This form protects the rights of parties involved in the production and use of video content. 2.2K downloads This form enables sharing of a patient's medical information between healthcare providers. 8.9K downloads This document provides the model’s permission to use their photos in public. 6.5K downloads This form removes any encumbrances on the property, permitting its sale or refinancing. 1.7K downloads This form is impeccable in the daily work of content creators and talented persons. 5.4K downloadsThe lease release agreement is a document that is useful for landlords and tenants who want to mutually end a lease agreement before the original end date. In this agreement, both parties agree to be released from their obligations under the original rental or lease contract.
The lease release agreement form spells out the terms a tenant and a landlord have agreed to for ending the original lease early. This form protects both parties by clearly documenting the early end date in writing. It’s like a formal handshake signaling the end of the original lease.
Several key terms that will be included in a lease release agreement form are:
Ending a lease early can lead to a series of future misunderstandings or disputes. A lease release agreement often serves as a safety net for both parties. A lease release agreement clearly spells out the terms and conditions associated with the early termination. Some of the terms can include how much the tenant needs to pay to settle up in terms of rent owed and the time the tenant has to move out of the property. When everything is properly outlined in a lease release agreement form, both parties are protected from many potential disputes or misunderstandings.
Whether using a ready-made release of lease agreement template or drafting one from scratch, the documentation brings clarity to the transition process. It provides a smooth changeover from a binding lease to a mutual release of duties.
Here are some key benefits tenants and landlords receive when they use a lease release agreement:
Legal protection by documenting the termination terms in writing Prevented misunderstandings related to end date, property condition, final payments, etc. Useful records in case disputes arise later Flexibility to change the end date if situations change A formal conclusion of lease duties for a clean breakA properly crafted lease release agreement gives both parties confidence when terminating a lease early. It provides clarity around responsibilities and prevents unwanted surprises.
When putting together an “agreement to release from lease” template, make sure that the lease release agreement will have all the key elements. It must be comprehensive and have clear language, correct information, and everything that needs to be covered. The key elements include the names and contact information for the parties, the description of the property, the new date on which the lease will end, why the lease is ending early, and the signatures of both parties and any required witnesses.
Include the original lease terms to represent the terms and conditions that were agreed upon by the landlord and the tenant when they signed the original lease agreement. These terms include the following:
The duration of the lease and the start and end dates The amount of rent and the payment schedule The security deposit and the conditions for its return The responsibilities of both parties regarding maintenance, repairs, utilities, etc. The rules and regulations for the property, such as noise, pets, guests, etc. The consequences for breaching the lease terms, such as fees, penalties, or evictionThe lease release agreement should make specific references to the original lease terms and describe how those terms will be affected by the termination of the lease.
The date the lease is being terminated is another crucial component of the release of lease agreement. This includes the specific date when the obligations of the lease end for both the landlord and the tenant. The parties must clearly state the date in the agreement to avoid confusion or disputes. From this date forward, neither party has any further responsibilities under the terms of the original lease, unless otherwise specified in the release agreement. This date must be agreed upon by both parties before they sign.
This is another key section in a lease release agreement. In the simplest terms, this is the release by which both parties — the landlord and the tenant — mutually consent to release each other from the liabilities and obligations of the original lease contract. This portion also releases the parties from any claims with respect to the lease after the termination date. As such, neither of the parties can hold each other responsible for issues arising from the lease starting from that date.
The fees and security deposit section is another important section of a lease release agreement. Here, all the money matters between the tenant and the landlord will be settled. Whether it is unpaid rent costs related to property damage or late fees, or the terms for returning the security deposit, everything financial is documented in this section.
Before adding a signature to the document, make sure that the terms and conditions with respect to fees, the security deposit, and all other financial obligations are stated clearly. Double-check this section, as well as the rest of the document, to avoid any surprises. Remember that the lease release agreement serves as a final account settlement. The purpose is to ensure that both parties agree to these financial matters. To avoid future disputes or misunderstandings, this section especially must be subjected to a thorough, comprehensive review.
Once both parties have gone over all the important parts of the lease release agreement, one final step remains. The parties must sign on the dotted lines of the agreement. Both the landlord and the tenant are required to sign and date the agreement, indicating that both parties truly agree with the terms and conditions documented therein.
In addition, the parties may also want an additional person to sign as a witness, to make the document even more official. In many areas, a notary public will be the best choice to serve as a witness. Also remember the timestamp, as it serves as a digital footprint to record the exact date and time when the agreement was signed. This section is vital because it is what makes the whole lease release agreement legally binding.
If you do not have a legally binding document that serves as a lease release agreement, you could be exposed to several potential risks. Some of these include:
Legal disputes: Without a formal agreement, misunderstandings can lead to legal disputes. The landlord or tenant may make claims against each other, leading to costly and time-consuming litigation.
Financial loss: Without a clear agreement on final payments or the return of the security deposit, either party could face unexpected financial loss.
Lack of clarity: Without a lease release agreement, there may be confusion about the terms of the lease termination, which can lead to potential disputes or claims for breach of contract.
Continued liability: Without a formal release, the tenant may continue to be liable for rent or other obligations, even after vacating the property.
Damage to reputation: Legal disputes can harm both parties’ reputations, potentially affecting future leasing opportunities as a tenant or as a landlord.
To avoid these risks, consider using an “agreement to release from lease” template. A template can help to ensure that all the necessary details are covered in order to provide legal protection for both parties.
Once you’ve signed a lease release agreement, both parties are consequently released from their obligations and liabilities under the original contract. The rights and interests of the tenant and the landlord are legally protected. As such, a well-drafted agreement means that the parties will not need to worry about future disputes because they coordinated a smooth and straightforward legal end to the lease.
Drafting a lease release agreement form can be tedious. However, the following step-by-step guide to writing a lease release agreement may help simplify the process.
Before drafting a lease release agreement, review the terms of the original lease. This will help with understanding the obligations and rights of both parties and guide the termination process.
Clearly identify the landlord and the tenant in the lease release agreement. This includes each party’s full name and contact information. This will help to avoid confusion.
In the release of lease agreement, be sure to refer often to the original lease and its terms. This provides context and links the release agreement to the original contract.
In the lease release agreement, specify on which date the tenant will vacate the property. This is when the lease will officially end and all original obligations will cease.
The lease release agreement should also clearly state why the lease is being terminated early. This could be due to a variety of reasons, such as relocation, financial difficulties, or simply a mutual agreement.
The tenant should provide a forwarding address in the lease release agreement. This is where any future correspondence or the returned security deposit can be sent.
While not always required, including a proof of service in the lease release agreement can be beneficial. This is either evidence or a statement that all parties have received a copy of the agreement.
A lease release agreement is typically used when a landlord and tenant mutually agree to end a lease before its scheduled termination date. This agreement outlines the conditions for the termination, including any outstanding payments or obligations that must be resolved.
The most common use cases for a lease release agreement include the following situations: in which the tenant needs to relocate for a job, the landlord plans to sell the property, or either party has breached the lease terms. In these scenarios, a lease release agreement can provide a clear and legal end to the lease, which can benefit both parties, no matter what reason they have for early termination.
In these scenarios, a lease release agreement can provide a clear and legal end to the lease, which can benefit both parties, no matter what reason they have for early termination.
The parties to a lease should not use a lease release agreement form if the tenant and the landlord plan to continue the lease under modified terms. In such cases, it is considered more appropriate for the parties to make an amendment to the original lease.
When dealing with a lease release agreement, be aware of the laws and regulations in the governing jurisdiction, which will generally be determined by the location of the property. These laws can vary widely, so it’s crucial to understand the specific requirements and protections in your area. For instance, some jurisdictions may require specific language or disclosures in a lease release agreement. For example, New York requires all lease release agreements to be clear and coherent and written using common words of everyday use.
Other states may have restrictions for how and when a lease can be terminated early, and violating these laws can have serious consequences. If you are considering ending a lease early, consider consulting with a lawyer who can assist with drafting or reviewing a lease release agreement before you sign. Remember, knowledge is power, especially when it comes to protecting your rights and interests.
