Early Termination Of Lease Agreement By Landlord Template for Saudi Arabia

The Early Termination of Lease Agreement By Landlord is a critical legal document used in Saudi Arabian real estate transactions when a landlord needs to end a lease agreement before its natural conclusion. This document becomes necessary in situations such as property sale, major renovations, or breach of lease terms by the tenant. It must comply with Saudi Civil Law, Sharia principles, and the Saudi Lease Law (Royal Decree No. M/61), which govern property rights and landlord-tenant relationships. The agreement typically includes detailed provisions for notice periods, property handover, financial settlements, and mutual releases. It's essential for protecting both parties' rights and ensuring a legally compliant termination process in the Saudi Arabian jurisdiction.

1. Parties: Identification of the Landlord and Tenant, including full legal names, addresses, and national ID/CR numbers as required by Saudi law

2. Background: Reference to the original lease agreement, its date, property details, and brief context for the early termination

3. Definitions: Key terms used in the agreement including 'Termination Date', 'Property', 'Original Lease', and 'Outstanding Obligations'

4. Grounds for Termination: Clear statement of the legal basis and specific reasons for early termination under Saudi law

5. Notice of Termination: Formal declaration of termination and specification of the termination date in compliance with statutory notice periods

6. Property Handover: Process and requirements for returning the property, including condition assessment and key return

7. Financial Settlement: Details of final rent calculation, security deposit return, and settlement of any outstanding payments

8. Mutual Release: Release of parties from future obligations under the original lease, subject to completion of termination conditions

9. Governing Law: Confirmation that the agreement is governed by Saudi law and Sharia principles

10. Execution: Signature blocks and execution requirements compliant with Saudi law