The Early Tenancy Termination agreement is essential in the Indian real estate market where changing circumstances may necessitate the premature end of a lease arrangement. This document is typically used when either the landlord or tenant needs to terminate a lease before its natural expiration, ensuring compliance with Indian property laws and state-specific regulations. It encompasses crucial elements such as notice periods, security deposit settlements, utility transfers, and property handover protocols. The agreement is structured to protect both parties' interests while adhering to the requirements of the Transfer of Property Act 1882 and relevant state rent control laws. It's particularly valuable in situations involving corporate relocations, personal emergencies, or mutual agreement to end the tenancy early.
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1. Parties: Identification of the landlord and tenant with complete contact details
2. Background: References to the original lease agreement, property details, and reason for early termination
3. Definitions: Definitions of key terms used in the agreement
4. Termination Date: Specific date when the tenancy will end and handover will occur
5. Notice Period: Confirmation of notice period being served or waived
6. Financial Settlement: Details of final rent payment, security deposit return, and any adjustments
7. Handover Requirements: Condition requirements for property return and move-out procedures
8. Release and Discharge: Mutual release from future obligations under the original lease
9. Governing Law: Confirmation that the agreement is governed by Indian law
10. Execution: Signature blocks and execution details
1. Outstanding Repairs: Used when there are pending repairs or maintenance issues to be resolved
2. Utility Transfers: Include when specific arrangements are needed for utility account transfers
3. Sub-tenant Provisions: Required if there are sub-tenants who need to vacate
4. Payment Plan: Include if any special payment arrangements are agreed for outstanding amounts
5. Forwarding Address: Optional section for tenant's forwarding address and future correspondence
6. Early Release Penalty: Include if there are any penalty charges for early termination
1. Schedule 1 - Property Details: Detailed description of the property including address and any included fixtures/fittings
2. Schedule 2 - Financial Statement: Detailed breakdown of all financial calculations including rent, deposits, and adjustments
3. Schedule 3 - Inspection Checklist: Property condition checklist for move-out inspection
4. Schedule 4 - Handover Inventory: List of items to be returned (keys, access cards, etc.)
5. Appendix A - Original Lease Reference: Copy or key details of the original lease agreement
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