The Termination Of Property Management Agreement is used when either party wishes to end their existing property management arrangement in England and Wales. This document is essential when transitioning property management responsibilities, whether due to contract expiration, breach of terms, or mutual agreement to end the relationship. It includes crucial elements such as final accounts settlement, property documentation handover, key returns, and resolution of outstanding matters. The agreement ensures compliance with relevant property legislation and provides legal protection for all parties involved in the termination process.
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1. Parties: Details of the property owner and management company
2. Background: Context of the original agreement and reason for termination
3. Definitions: Key terms used throughout the agreement
4. Termination Date: Specific date when management services will cease
5. Handover Obligations: Requirements for transfer of property management responsibilities
6. Final Accounts: Settlement of outstanding financial matters
7. Execution: Signature blocks and execution details
1. Transitional Arrangements: Additional provisions for temporary arrangements needed during handover period, typically used for complex properties or multiple stakeholders
2. Surviving Obligations: Provisions detailing which obligations continue after termination, used when specific duties need to continue post-termination
3. Dispute Resolution: Specific procedures for resolving any termination-related disputes, included when parties anticipate potential disagreements
1. Property Schedule: List of properties covered by the termination
2. Financial Statement: Final accounting of all funds and transactions
3. Document Inventory: List of all documents to be transferred
4. Key Schedule: Inventory of keys and access devices to be returned
Relevant legal definitions
Agreement
Original Management Agreement
Property
Termination Date
Management Services
Management Fee
Outstanding Amounts
Property Documents
Handover Date
Working Day
Confidential Information
Client Money
Service Charge
Management Period
Effective Date
Property Manager
Owner
Tenant
Keys and Access Devices
Bank Accounts
Contracts
Records
Transition Period
Professional Advisers
Representatives
Original Management Agreement
Property
Termination Date
Management Services
Management Fee
Outstanding Amounts
Property Documents
Handover Date
Working Day
Confidential Information
Client Money
Service Charge
Management Period
Effective Date
Property Manager
Owner
Tenant
Keys and Access Devices
Bank Accounts
Contracts
Records
Transition Period
Professional Advisers
Representatives
Clauses
Interpretation
Termination Date
Handover Obligations
Final Accounts Settlement
Return of Property Documents
Transfer of Keys and Access
Client Money Arrangements
Outstanding Fees
Service Contracts
Confidentiality
Data Protection
Intellectual Property
Insurance
Warranties and Representations
Indemnities
Surviving Obligations
Third Party Rights
Transitional Arrangements
Further Assurance
Notices
Assignment
Severability
Entire Agreement
Variation
Dispute Resolution
Governing Law and Jurisdiction
Termination Date
Handover Obligations
Final Accounts Settlement
Return of Property Documents
Transfer of Keys and Access
Client Money Arrangements
Outstanding Fees
Service Contracts
Confidentiality
Data Protection
Intellectual Property
Insurance
Warranties and Representations
Indemnities
Surviving Obligations
Third Party Rights
Transitional Arrangements
Further Assurance
Notices
Assignment
Severability
Entire Agreement
Variation
Dispute Resolution
Governing Law and Jurisdiction
Relevant Industries
Relevant Teams
Relevant Roles
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