Surrender of Lease Agreement

Summary

This precedent allows for the termination and surrender of a lease whether at the end of the Lease's Term or prior to the Term's end date. The end of a lease relationship often needs to be "papered over" to confirm that the Landlord and Tenant are going their separate ways without any further contractual liabilities or duties. There should be certainty that the Landlord and Tenant have each fulfilled their respective obligations. This precedent contains practical guidance and drafting notes. A commercial lease usual sets a very specific a mount of time for the "Term" of the lease. The tenant is given the right to occupy the leased area for a specific time from commencement of the lease to the end date of the lease. Once that time period has come to an end, the Landlord and Tenant often confirm the end of the lease and the resulting end of the contractual relationship between the two of them. The Landlord wants to confirm that the Tenant is not going to continue to claim rights in the ...