Deed of surrender: any commercial property lease
Surrender document to terminate any commercial lease by mutual agreement includes optional provision for payment by one party to the other and for all obligations to cease.
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About this document
A “surrender” of a lease is the name of the document which is used to terminate a commercial lease by agreement between the landlord and the tenant. For a formal surrender, the document should be executed in the form of a deed as this one is. It may also be used to surrender any other commercial lease.
A surrender may be immediate and simple, but in many cases the Landlord will want to be sure that the Tenant leaves the premises when required and in the condition required by the lease. This surrender document covers the Landlord's position thoroughly.
Note that the conditions imposed by the Landlord in return for a payment might be anything. We have provided here a template which can be used flexibly.
- Details of lease to be surrendered
- Obligation to give up possession
- Obligations for repair
- Tenant has no obligations to Landlord, except as stated
- Landlord has no obligations to tenant except as stated
- Termination: what happens
This document was written by a solicitor for Net Lawman. It complies with current New Zealand law.
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By Barry Calder 03 December 2013
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