Document background
The Early Termination of Lease agreement is a crucial document used in New Zealand when both landlord and tenant agree to end a lease before its scheduled expiration date. This document is essential in both residential and commercial contexts, providing a clear framework for terminating the lease relationship while protecting both parties' interests. It includes specific provisions required under New Zealand law, including compliance with the Residential Tenancies Act 1986 for residential properties and the Property Law Act 2007 for commercial properties. The agreement typically covers key aspects such as the agreed termination date, final payment arrangements, property handover conditions, and mutual release from ongoing obligations. It's particularly valuable when circumstances change unexpectedly for either party, requiring a formal and mutually agreeable exit from the lease commitment.
