The Lease Release Form is a crucial document in Singapore's property landscape, used when parties mutually agree to terminate a lease before its natural expiration. This document ensures compliance with Singapore's property laws while providing legal certainty to both parties. The form typically includes details of the original lease, terms of release, settlement of outstanding obligations, and handling of security deposits. It's particularly important in commercial and residential property management, offering protection to both landlords and tenants by clearly documenting the termination terms and mutual releases.
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Key Requirements PROMPT example:
Lease Release Form
"I need a Lease Release Form for my commercial property at 123 Orchard Road, Singapore, where both parties have agreed to terminate the lease early on March 15, 2025, with specific provisions for the return of a $50,000 security deposit."
1. Parties: Identification of landlord and tenant with full legal names and addresses
2. Background: Details of original lease agreement and circumstances leading to release
3. Definitions: Key terms used in the release document
4. Release Terms: Specific terms of the release including effective date and scope
5. Mutual Release: Statement of mutual release of obligations and claims
6. Execution: Signature blocks and witnessing requirements
1. Security Deposit Return: Terms for return of security deposit when applicable
2. Property Condition: Statement about condition of property upon surrender when specific property condition issues exist
3. Outstanding Payments: Handling of any remaining rent or utility payments when there are pending financial matters
1. Original Lease Agreement: Copy of the original lease being released
2. Property Inspection Report: Documentation of property condition at release
3. Payment Settlement Statement: Detailed statement of final payments and settlements
Authors
Relevant legal definitions
Clauses
Mutual Release
Termination
Security Deposit Return
Property Surrender
Outstanding Payments
Utilities Settlement
Keys and Access Devices
Property Condition
Personal Property Removal
Final Inspection
Release of Claims
Indemnification
Confidentiality
Severability
Governing Law
Entire Agreement
Amendment
Further Assurance
Costs and Expenses
Notices
Counterparts
Authority
Binding Effect
Survival
Termination
Security Deposit Return
Property Surrender
Outstanding Payments
Utilities Settlement
Keys and Access Devices
Property Condition
Personal Property Removal
Final Inspection
Release of Claims
Indemnification
Confidentiality
Severability
Governing Law
Entire Agreement
Amendment
Further Assurance
Costs and Expenses
Notices
Counterparts
Authority
Binding Effect
Survival
Relevant Industries
Relevant Teams
Relevant Roles
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