Agreement To Cancel Lease Template for Singapore

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Agreement To Cancel Lease Template

I need an Agreement To Cancel Lease Template for a commercial property in Singapore, where both tenant and landlord have agreed to terminate the lease early on March 1, 2025, with specific provisions for the return of a $50,000 security deposit.

Document background

The Agreement To Cancel Lease Template is essential when parties mutually agree to terminate a lease before its intended end date. Under Singapore law, this document provides legal protection for both landlord and tenant by clearly defining the terms of separation, including the termination date, financial settlements, and release of obligations. It helps prevent future disputes by documenting the agreed terms of the early termination and ensures compliance with Singapore's property and contract laws. This agreement is particularly relevant during situations such as tenant relocation, property sale, or other circumstances where both parties agree to end the lease prematurely.

Suggested Sections

1. Parties: Identifies and defines the landlord and tenant

2. Background: Details of original lease and reason for cancellation

3. Definitions: Key terms used in the agreement

4. Termination Date: Specific date when lease will be terminated

5. Mutual Release: Parties' agreement to release each other from lease obligations

6. Security Deposit: Terms for return of security deposit

7. Execution: Signature blocks and execution details

Optional Sections

1. Property Inspection: Terms for final inspection, applicable when property condition is a concern

2. Outstanding Payments: Settlement of any pending rent or utility payments

3. Keys Return: Procedure for returning keys and access devices

Suggested Schedules

1. Original Lease: Copy of the original lease being cancelled

2. Property Condition Report: Current condition of property if relevant

3. Payment Settlement Schedule: Details of any financial settlements 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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate
Residential Housing
Commercial Property
Industrial

Relevant Teams

Real Estate
Legal
Operations
Finance
Administration

Relevant Roles

Property Manager
Lease Administrator
Real Estate Manager
Facilities Manager

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Let's create your Agreement To Cancel Lease

Authors

Alex Denne

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