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Mutual Cancellation of Lease Form
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Think you don’t need the Mutual Cancellation of Lease Form? Picture this...your lease is ending and you have verbally discussed all of the specifics with your Leasor. 2 months later, you receive a utility statement for your prior apartment requesting payment for the month after your lease ended.
The Leasee is stating that you were still occupying the residence during that timeframe, but you can’t prove it!
A comparable sticky situation could occur for the Leasor if the Leasee tries to skip out of the lease prior to the agreed upon date. So, whenever you enter into a lease as the Leasee or Leasor, you NEED to protect yourself by getting your agreement in writing. Use this template to get all the details on paper.
FOR GOOD CONSIDERATION, _ [Lessee], and _ [Lessor], under
a certain lease agreement between the parties under date of _,
19_ [Lease], do hereby mutually agree to terminate and cancel
said Lease effective _, 19_ and all rights and obligations
under said Lease shall thereupon be cancelled excepting only
for any obligations under the Lease accruing prior to the
effective termination date.
This agreement shall be binding upon the parties, their
successors, assigns and personal representatives.