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Residential Lease Termination Agreement

Residential Lease Termination Agreement Template for Malaysia

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Key Requirements PROMPT example:

Residential Lease Termination Agreement

"I need a Residential Lease Termination Agreement for my property in Kuala Lumpur, where my tenant has agreed to an early termination effective March 1, 2025, and we need to include specific terms about returning the security deposit after repairs are completed."

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Document background
The Residential Lease Termination Agreement is a crucial legal document used in Malaysia when parties wish to formally end a residential tenancy before or at the end of its term. This document is essential for protecting both landlords' and tenants' interests by clearly documenting the agreed terms of lease termination, including important details such as the termination date, property handover process, and settlement of financial obligations. It must comply with Malaysian property law, particularly the National Land Code 1965 and relevant state-specific housing regulations. The agreement is commonly used in situations where both parties mutually agree to end the lease, or when termination is initiated according to provisions in the original lease agreement. It helps prevent future disputes by providing clear documentation of the termination terms and mutual release of obligations.
Suggested Sections

1. Parties: Identifies and provides full details of the landlord and tenant, including names, identification numbers, and addresses

2. Background: References the original lease agreement, its date, and key terms, establishing context for the termination

3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty

4. Termination Date: Specifies the exact date when the lease will terminate and when the tenant must vacate the premises

5. Security Deposit: Details the handling and return of the security deposit, including any deductions and timeline for return

6. Final Inspection: Outlines the process and timing for the final property inspection

7. Outstanding Payments: Addresses any remaining rent, utility bills, or other payments due from either party

8. Keys and Access: Specifies arrangements for returning keys and securing the property

9. Release of Obligations: Mutual release of future obligations under the original lease agreement

10. Governing Law: Confirms that the agreement is governed by Malaysian law

11. Execution: Signature blocks for all parties and witnesses as required under Malaysian law

Optional Sections

1. Forwarding Address: Section for tenant's new address for future correspondence, particularly relevant if security deposit is to be returned later

2. Property Damage: To be included if there are specific damages to be addressed or disputed

3. Dispute Resolution: Include when parties want to specify a particular method for resolving potential disputes

4. Survival Clause: Include when certain obligations need to continue after termination

5. Early Termination Fee: Include when the termination occurs before the original lease end date and penalties apply

6. Maintenance Issues: Include when there are outstanding maintenance or repair issues to be resolved

Suggested Schedules

1. Schedule A - Property Details: Detailed description of the property including address and specific areas covered by the lease

2. Schedule B - Inventory List: List of fixtures, fittings, and furniture included in the original lease and their condition

3. Schedule C - Utility Accounts: List of utility accounts and their status, including final meter readings

4. Schedule D - Inspection Report: Detailed report of the property's condition at termination, including photographs if applicable

5. Schedule E - Payment Schedule: Breakdown of any final payments, including deposit deductions if applicable

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Real Estate

Property Management

Residential Property

Legal Services

Housing

Property Investment

Relevant Teams

Legal

Property Management

Real Estate

Compliance

Operations

Administrative

Asset Management

Tenant Relations

Documentation

Relevant Roles

Property Manager

Real Estate Agent

Legal Counsel

Housing Officer

Leasing Manager

Property Administrator

Tenancy Coordinator

Real Estate Attorney

Compliance Officer

Asset Manager

Industries
National Land Code 1965: The primary legislation governing land matters in Malaysia, including provisions for tenancies and leases of land and buildings.
Contracts Act 1950: Governs the formation and enforcement of contracts in Malaysia, including provisions for termination of agreements and remedies for breach of contract.
Specific Relief Act 1950: Provides legal remedies and enforcement mechanisms for contractual rights, including specific performance and injunctive relief in relation to property matters.
Distress Act 1951: Enables landlords to recover rent arrears through the seizure of property on the rented premises, relevant for addressing outstanding payments during termination.
Stamp Act 1949: Requires proper stamping of the termination agreement to ensure its admissibility in court and legal validity.
Civil Law Act 1956: Contains provisions relating to the application of English common law principles in contractual matters, including lease agreements.
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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