Lease Surrender Agreement Template for Austria

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Key Requirements PROMPT example:

Lease Surrender Agreement

"I need a Lease Surrender Agreement for our retail store in Vienna's shopping district, where we're terminating our 10-year lease early by mutual agreement, with the surrender to take effect on March 1, 2025; we'll need to include specific provisions about removing our specialized retail fixtures."

Document background
The Lease Surrender Agreement is a crucial document used when both landlord and tenant wish to terminate an existing lease agreement before its scheduled end date. Under Austrian law, this document provides a structured framework for early lease termination by mutual consent, ensuring compliance with the Austrian Civil Code (ABGB) and Tenancy Act (Mietrechtsgesetz). It is particularly relevant in situations such as business relocations, property sales, or when either party needs to exit the lease arrangement for strategic reasons. The agreement comprehensively addresses all aspects of the surrender, including financial settlements, property condition, handover procedures, and mutual releases, while protecting both parties' interests and ensuring legal certainty. This document is essential for properly documenting the agreed terms and preventing future disputes regarding the lease termination.
Suggested Sections

1. Parties: Identification of the landlord and tenant, including full legal names, registration details for companies, and addresses

2. Background: Details of the existing lease agreement, including date of original lease, property description, and reason for surrender

3. Definitions: Definitions of key terms used throughout the agreement, including 'Surrender Date', 'Premises', 'Existing Lease', etc.

4. Agreement to Surrender: The core agreement where both parties agree to the early termination of the lease

5. Surrender Date: Specific date and time when the lease will be terminated and premises returned

6. Payment Provisions: Details of any surrender premium or compensation to be paid by either party

7. Condition of Premises: Requirements for the condition in which the premises must be returned, including removal of tenant's belongings

8. Settlement of Outstanding Obligations: Agreement on handling of rent, service charges, utilities and other payments up to the surrender date

9. Return of Deposit: Arrangements for the return of any security deposit or bank guarantee

10. Handover Procedure: Process for inspecting the premises and transferring possession back to the landlord

11. Mutual Release: Mutual release from future obligations under the lease, subject to any surviving provisions

12. Governing Law: Confirmation that the agreement is governed by Austrian law

13. Execution: Signature blocks and execution requirements

Optional Sections

1. Dilapidations: Detailed provisions regarding repair obligations and settlement of dilapidations claims, used when there are significant repair or restoration requirements

2. Third Party Consents: Required when consent from third parties (such as mortgagees or superior landlords) is needed for the surrender

3. Tax Provisions: Specific provisions dealing with VAT and other tax implications, used when the surrender has significant tax consequences

4. Insurance: Provisions dealing with termination or transfer of insurance obligations, used when specific insurance arrangements need to be addressed

5. Confidentiality: Provisions requiring the parties to keep the terms of the surrender confidential, used in sensitive commercial situations

6. Broker's Fees: Provisions dealing with any broker or agent fees, used when brokers were involved in arranging the surrender

Suggested Schedules

1. Schedule 1 - The Premises: Detailed description and/or plans of the premises being surrendered

2. Schedule 2 - Inventory: List of any fixtures, fittings or equipment included in the surrender

3. Schedule 3 - Condition Report: Detailed report on the condition of the premises at surrender

4. Schedule 4 - Outstanding Obligations: List of any outstanding obligations and how they will be settled

5. Schedule 5 - Handover Requirements: Detailed checklist of requirements for the handover of the premises

6. Appendix A - Original Lease: Copy of the original lease agreement and any variations

7. Appendix B - Required Consents: Copies of any third-party consents obtained for the surrender

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
Relevant Industries

Real Estate

Retail

Office Space

Industrial & Manufacturing

Hospitality

Healthcare

Education

Banking & Financial Services

Professional Services

Technology

Logistics & Warehousing

Relevant Teams

Legal

Real Estate

Facilities Management

Operations

Finance

Risk & Compliance

Property Management

Asset Management

Corporate Services

Procurement

Relevant Roles

Property Manager

Real Estate Director

Facilities Manager

Legal Counsel

Corporate Lawyer

Operations Manager

Chief Financial Officer

Asset Manager

Leasing Manager

Real Estate Portfolio Manager

Company Secretary

Risk Manager

Commercial Director

Head of Real Estate

Procurement Manager

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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