Early Termination Of Lease Agreement Template for India

1. Parties: Identification of the Landlord/Lessor and Tenant/Lessee with complete details including names, addresses, and contact information

2. Background: Brief recital of the original lease agreement details, including date of execution, property description, and current situation leading to early termination

3. Definitions: Definitions of key terms used in the agreement including 'Termination Date', 'Original Lease', 'Property', and other relevant terms

4. Termination Agreement: Clear statement of mutual agreement to terminate the lease early and specification of the exact termination date

5. Property Handover: Details of the process and conditions for returning the property to the landlord, including inspection procedures

6. Settlement of Dues: Provisions regarding final utility bills, rent payments, and other financial obligations up to the termination date

7. Security Deposit: Terms for the return of the security deposit, including any deductions and timeline for refund

8. Mutual Release: Clause releasing both parties from future obligations under the original lease agreement

9. Governing Law: Specification that the agreement is governed by Indian law and relevant state regulations

10. Execution: Signature blocks and execution details for all parties

1. Schedule A - Property Details: Detailed description of the property including address and any included fixtures or fittings

2. Schedule B - Settlement Statement: Detailed breakdown of all financial settlements including rent, deposits, and any adjustments

3. Schedule C - Handover Checklist: Itemized list of conditions to be met for proper handover of the property

4. Appendix 1 - Original Lease: Copy of the original lease agreement for reference

5. Appendix 2 - Property Inspection Report: Current condition report with photographs and notes about the property's state

6. Appendix 3 - Utility Bills Settlement: List of utility accounts and final reading arrangements