An Ending Lease Agreement is a crucial document used in Hong Kong when parties wish to formally terminate their existing lease arrangement, whether at the natural end of the term or through mutual agreement for early termination. This document, governed by Hong Kong law and regulations, particularly the Landlord and Tenant (Consolidation) Ordinance, serves to protect both landlord and tenant interests by clearly documenting the termination terms, handover requirements, and financial settlements. The agreement includes essential elements such as confirmation of the termination date, property condition requirements, security deposit arrangements, and settlement of outstanding charges. It should be used whenever a lease is being terminated to ensure a clear and legally compliant closure of the tenancy relationship, preventing potential future disputes.
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1. Parties: Identification of the Landlord and Tenant, including full legal names and addresses
2. Background: Reference to the original lease agreement, its date, and property details
3. Definitions: Key terms used in the agreement including 'Termination Date', 'Security Deposit', 'Property', etc.
4. Confirmation of Termination: Clear statement of the lease termination date and mutual agreement to end the tenancy
5. Handover Requirements: Specific conditions for returning the property, including cleanliness standards and repair obligations
6. Security Deposit Settlement: Terms for the return of the security deposit, including deductions if applicable
7. Outstanding Payments: Settlement of any remaining rent, utilities, management fees, and other charges
8. Keys and Access Devices: Requirements for returning all keys, access cards, and related items
9. Mutual Release: Release of both parties from future obligations under the original lease
10. Governing Law: Confirmation that the agreement is governed by Hong Kong law
11. Execution: Signature blocks for all parties
1. Early Termination Provisions: Required if the lease is being terminated before the original end date, including any penalties or compensation
2. Renovation Requirements: Specific if there are renovation or restoration works required before handover
3. Forwarding Address: Include if the tenant needs to provide a forwarding address for future correspondence
4. Property Sale Provisions: Required if the termination is due to property sale
5. Dispute Resolution: Optional section for specific dispute resolution procedures
6. Insurance Matters: Required if there are specific insurance-related matters to be addressed
7. Third Party Rights: Required if there are guarantors or other third parties involved in the original lease
1. Schedule 1 - Property Inventory: Detailed list of fixtures, fittings, and their condition at termination
2. Schedule 2 - Handover Checklist: Comprehensive checklist for property inspection and handover procedures
3. Schedule 3 - Outstanding Payment Schedule: Detailed breakdown of any outstanding amounts and payment arrangements
4. Schedule 4 - Utility Account Details: List of utility accounts to be terminated or transferred
5. Appendix A - Original Lease Reference: Copy or key details of the original lease agreement
6. Appendix B - Property Inspection Report: Final inspection report with photographs and condition assessment
7. Appendix C - Settlement Calculation: Detailed calculation of final settlement including security deposit deductions if any
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