Document background
The Lease Termination Addendum is utilized when parties to a lease agreement mutually decide to end their lease relationship before the original termination date or wish to formally document an agreed-upon termination. This document is essential in the German legal context, where lease terminations must comply with specific requirements under the German Civil Code (BGB). It captures critical information including the termination date, property handover procedures, settlement of accounts, and return of security deposits. The addendum serves as a legally binding modification to the original lease agreement, providing clarity and protection for both landlords and tenants during the termination process. It's particularly important in commercial and residential leasing contexts where formal documentation of the termination agreement is necessary for legal certainty and future reference.
