Rent Release Form for Malaysia

Rent Release Form Template for Malaysia

A formal legal document used in Malaysia that provides a mutual release of obligations between landlords and tenants upon the termination or surrender of a lease agreement. This document, governed by Malaysian property and contract law, including the National Land Code 1965 and Contracts Act 1950, serves to document the formal ending of a tenancy relationship, confirm the settlement of all obligations, and protect both parties from future claims related to the tenancy. It includes provisions for the return of security deposits, confirmation of property condition, and settlement of any outstanding matters.

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What is a Rent Release Form?

The Rent Release Form is a crucial legal document used in Malaysian property transactions to formally terminate a tenancy agreement and release both parties from their respective obligations. This document becomes necessary when a lease is ending, whether at its natural conclusion or through early termination by mutual agreement. It serves as evidence that all rental obligations have been fulfilled, the property has been returned in acceptable condition, and all financial matters have been settled. The form must comply with Malaysian legal requirements, including the National Land Code 1965 and Contracts Act 1950, and typically includes details about the property, original lease terms, confirmation of deposit returns, and mutual releases from future claims. It's particularly important in preventing future disputes and providing legal certainty for both landlords and tenants.

What sections should be included in a Rent Release Form?

1. Parties: Identification of the Landlord and Tenant, including full legal names, addresses, and any relevant registration numbers for companies

2. Background: Brief recital of the original tenancy agreement details, including date, property address, and term of lease

3. Definitions: Key terms used in the release form including 'Property', 'Tenancy Agreement', 'Release Date', and 'Outstanding Obligations'

4. Release Details: Specific terms of the release, including the effective date and scope of obligations being released

5. Confirmation of Property Condition: Statement regarding the condition of the property upon surrender and any inspections conducted

6. Settlement of Accounts: Confirmation of all rent payments, utility bills, and other financial obligations being settled

7. Security Deposit: Details of security deposit return or deductions, if applicable

8. Execution: Signature blocks for all parties and witnesses

What sections are optional to include in a Rent Release Form?

1. Partial Release Provisions: Used when only certain obligations or parties are being released while others remain in effect

2. Outstanding Claims: Include when there are specific claims or disputes that need to be addressed or reserved

3. Property Damage Settlement: Required when there are specific agreements regarding repair or compensation for property damage

4. Key Return Confirmation: Added when formal acknowledgment of key return is required

5. Forwarding Address: Include when future correspondence or deposit return requires tenant's new address

6. Mutual Release: Used when both parties are releasing each other from all claims and obligations

What schedules should be included in a Rent Release Form?

1. Schedule 1 - Property Inspection Report: Detailed report of the property's condition at the time of surrender

2. Schedule 2 - Settlement Statement: Itemized list of all financial settlements, including rent, deposits, and any deductions

3. Schedule 3 - Photographic Evidence: Photos documenting the property's condition at surrender, if required

4. Appendix A - Original Tenancy Agreement: Copy of the original tenancy agreement being released

5. Appendix B - Handover Checklist: Checklist confirming completion of all handover requirements

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

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Photo Release Authorization Form

A Malaysian law-compliant authorization form granting permission for the use and distribution of photographs of an individual subject.

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What is a Rent Release Form?

What sections should be included in a Rent Release Form?

What sections are optional to include in a Rent Release Form?

What schedules should be included in a Rent Release Form?

Authors

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