A sample lease termination is an official instrument to check that the due payments are all made on time before the lease term ends. It is a means of confirmation of the fact that the buyer does not wish to extend or renew the lease. Lease termination indicates that the lessee has conformed to all the stated rules. It is a way to notify the lesser in case the lessee has failed to conform and is liable to a case of penalty. This enables the lesser to look for new buyers within time.
Sample Lease Termination
Lease Number: 29475
This lease termination is to confirm that I, Nor Feldman, as lessee, have leased a house [Address: 45B, Wood Street, Hamilton city] from the lesser, Demy Frontman, owner of the house, on 20th May, 2011. The lease is valid till 19th December, 2011.This is to inform you that I plan to vacate this house on 20th December, 2011.The details of the contract are stated below:
- Dates of commencement and expiry of lease: This lease is valid for a time period of 8 months. It extends from 20th May 2011 to 19th December, 2011.
- Payment: An amount of $465300 had been paid at the beginning of the lease term by a cheque [Cheque number: 474629]. The remaining amount of $350000 has been duly paid on 1st December, 2011 by cheque [Cheque number: 499318]. Thus, all the payments, as declared by this agreement, have been cleared.
- Proofs submitted: Identity Proof, License, Residential Proof and Income Certificate had been furnished at the beginning of the establishment of this contract [Check the attested photocopies]. I wish to notify hereby that the lesser can return the security amount and relevant documents on my previous address as provided in the residential proof.
- The deed has been ratified in the presence of: Solicitor Norman Ginger.
- In case the lesser wants to examine the property to ensure its present status, the dates I will be available are from 16th to 20th December, 2011.
- If it is found that any damage or loss has occurred, I will accept the amount that will be deducted from the security amount deposited.
Signatures [in full]: __________________________________ [Lessee]