Document background
The Early Lease Termination Agreement is a crucial document used in Malaysian property law when both landlord and tenant agree to end a lease before its scheduled expiration date. This document becomes necessary when circumstances require early termination, such as business relocations, property sales, or other mutually agreed situations. It protects both parties by clearly documenting the termination terms, financial settlements, and property handover requirements. The agreement must comply with Malaysian legislation, including the National Land Code 1965, Contracts Act 1950, and Stamp Act 1949. It typically includes provisions for security deposit returns, outstanding payments, property condition requirements, and mutual releases from future obligations. This document is particularly important in commercial and residential property sectors where early termination needs to be handled professionally and legally.
