The Lease Cancellation Form is a critical document used in Singapore when parties wish to formally terminate a lease agreement before its natural expiration. It provides a structured framework for early termination that complies with Singapore's property laws and regulations. This document is essential for protecting both parties' interests by clearly stating the terms of cancellation, financial settlements, property restoration requirements, and mutual release from future obligations. The form is particularly relevant in situations involving early termination due to mutual agreement, unforeseen circumstances, or other valid reasons recognized under Singapore law.
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Key Requirements PROMPT example:
Lease Cancellation Form
"I need a Lease Cancellation Form for my commercial office space in Singapore CBD, with early termination date of March 1, 2025, including specific provisions for the return of renovated areas and settlement of utility deposits."
1. Date and Parties: Identification of landlord and tenant, property address
2. Original Lease Reference: Details of the original lease being cancelled including date, parties, and property details
3. Cancellation Terms: Effective date and conditions of the lease cancellation
4. Financial Settlement: Details of security deposit return, outstanding rent, and other financial matters
5. Mutual Release: Statement releasing both parties from future obligations under the lease
1. Property Inspection: Details of property inspection requirements and condition assessment before handover
2. Utilities Settlement: Provisions for transfer or settlement of utility accounts
3. Key Return: Requirements and process for returning keys and access devices
4. Renovation Restoration: Requirements for restoring any modifications made to the property
1. Property Condition Report: Detailed documentation of the current state of the property
2. Outstanding Payments Schedule: Itemized list of any pending payments or settlements
3. Handover Checklist: Comprehensive list of items to be checked during property handover
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