An early lease termination document is framed to state the terms and conditions for the termination of a certain lease prior to the date of completion of the lease contract. There might be a number of reasons for ending a lease before the end of the lease term, but the process should be conducted without compromising with any of the legal issues. Hence, an early lease termination should be filed in paper and submitted to the corresponding department of law.
Sample Early Lease Termination:
This early lease termination is being filed for the property lease [ref. no.: 78132] that was drawn on the 16th day of June, 2011 between Jane Fredrick, hereafter referred to as the lessor and Andrew George, hereafter referred to as the lessee. The lessor, residing at 15, Palm Avenue, New Jersey, was to lease out the property at 66, Martha Apartment, Lenin Road, New York to the lessee, whose permanent address is 18/B, Houston Apartments, New York. The primary change that is to be made is that the date of termination of lease, which was earlier supposed to be on the 16th of January, 2012, will have to be postponed by a month, that is, on the 16th day of December, 2011.
The details of the early termination lease are as follows:
- The term of validity of the lease, which was earlier planned to be seven months, has been reduced to six months, starting from 16th June, 2011 till 16th December, 2011
- The initial payment of $95000 had been cleared during the time of commencement of lease and the remaining amount of $135000, that was to be paid on completion of the deal (by 15th January, 2012), will now have to be cleared by the 15th of December, 2011. Due to the change occurred, the lessee will enjoy a discount of 10% and will have to pay a final amount of $121500
- The terms and conditions of the lease remain intact, and any deviation will be considered as a punishable offence.
Date: 8th October, 2011 Place: New York