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HOW IT WORKS
How it works
Whether you're a landlord or a tenant, there are times when you may need to break your lease earlier than expected. Creating and signing an Agreement to Cancel Lease with the other party legally dissolves your landlord-tenant relationship. With an agreement in writing, you can move forward and find new rental situations that work for you.
An Agreement to Cancel Lease is a helpful tool for both landlords and tenants needing to end a lease before the original lease termination date. For example, if you're a tenant who just got a job in another state, or you're a landlord planning on selling your rental property, creating an Agreement to Cancel Lease allows you to get out of your original lease while protecting your legal rights. Your written agreement should include information like: the address of the rental property; whether the landlord and the tenant are individuals or companies; the contact information for both parties; the end-date of the original lease; the new lease termination date; and when this lease cancellation will be signed by both parties. Depending on the original lease conditions, there may be a penalty for cancelling the lease, but you may come to an agreement to waive the additional fees.
Other names for this document: Latter to Cancel Lease Agreement, Agreement to Nullify Lease
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