Lease Release Form Template for Singapore

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Key Requirements PROMPT example:

Lease Release Form

"I need a Lease Release Form for my commercial property at 123 Orchard Road, Singapore, where both parties have agreed to terminate the lease early on March 15, 2025, with specific provisions for the return of a $50,000 security deposit."

Document background

The Lease Release Form is a crucial document in Singapore's property landscape, used when parties mutually agree to terminate a lease before its natural expiration. This document ensures compliance with Singapore's property laws while providing legal certainty to both parties. The form typically includes details of the original lease, terms of release, settlement of outstanding obligations, and handling of security deposits. It's particularly important in commercial and residential property management, offering protection to both landlords and tenants by clearly documenting the termination terms and mutual releases.

Suggested Sections

1. Parties: Identification of landlord and tenant with full legal names and addresses

2. Background: Details of original lease agreement and circumstances leading to release

3. Definitions: Key terms used in the release document

4. Release Terms: Specific terms of the release including effective date and scope

5. Mutual Release: Statement of mutual release of obligations and claims

6. Execution: Signature blocks and witnessing requirements

Optional Sections

1. Security Deposit Return: Terms for return of security deposit when applicable

2. Property Condition: Statement about condition of property upon surrender when specific property condition issues exist

3. Outstanding Payments: Handling of any remaining rent or utility payments when there are pending financial matters

Suggested Schedules

1. Original Lease Agreement: Copy of the original lease being released

2. Property Inspection Report: Documentation of property condition at release

3. Payment Settlement Statement: Detailed statement of final payments and settlements

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

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Property Manager
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Facilities Manager

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Authors

Alex Denne

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