Lease Release Form

How Do You Release Someone From a Lease?

Here is how you should compose a Release of Lease Form:

1. Write down the names of the parties and their contact information . To facilitate identification, especially if one of the names or both of them are common, you may also add the driver's license numbers of the counterparts.
2. Make sure the document contains a proper reference to the lease agreement the parties have signed in the first place - indicate the date of signing and the duration of the arrangement between the landlord and the tenant.
3. State the legal address of the rental unit - it has to match the one included in the lease.
4. Confirm the parties' intention to terminate the lease early by mutual consent . It is possible to indicate a reason for the early release - for instance, a property manager wants to sell the apartment or the tenant found another office space the business can use to its benefit.
5. Record the amount of release payment the tenant is paying the landlord for the early termination of the lease . If the property owner proposed an early lease release, they may offer compensation to the individuals that rented residential property or the company that occupied commercial real estate which is often done when the landlord wants a quick termination of the agreement.
6. Describe the condition of the premises at the moment of signing the release . If the tenant has to compensate the landlord for additional repairs, it has to be reflected in the document; alternatively, you may indicate the landlord is keeping the security deposit payment to cover the expenses related to the repairs and renovation of the rental unit. Specify the deadline date by which the tenant must move out and remove all their belongings.
7. Make sure both parties have a copy of the Release of Lease Form - keep it with the lease for several years in your records in case any disputes occur despite the present satisfaction of the parties. There is no need to notarize this document especially if the lease did not have a notary seal, but it may be a good idea to invite impartial witnesses who will certify your determination to break the lease early and sign the Lease Release Letter as well.

Haven't found the template you're looking for? Take a look at the related templates below:

• Mortgage Lien Release Template;
• Lease Addendum Template;
• Residential Lease Agreement Template.