The Tenancy Agreement Breaking Lease document is essential when parties need to formally terminate a lease before its scheduled end date in Hong Kong. It's commonly used in situations where either the tenant needs to vacate early due to unforeseen circumstances, or the landlord and tenant mutually agree to end the lease prematurely. The document incorporates requirements under Hong Kong's property laws, particularly the Landlord and Tenant (Consolidation) Ordinance, and includes crucial elements such as termination dates, financial settlements, property handover conditions, and mutual releases. It protects both parties' interests by clearly documenting the terms of early termination and helping prevent future disputes. This document can be used for both residential and commercial properties and should be customized based on the specific circumstances of the early termination.
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1. Parties: Identification of the landlord and tenant, including full names, addresses, and contact details
2. Background: Brief context of the original tenancy agreement and the intention to terminate early
3. Definitions: Key terms used in the agreement including 'Original Tenancy Agreement', 'Early Termination Date', 'Security Deposit', etc.
4. Early Termination Terms: Core terms of the early termination including the agreed termination date and conditions precedent
5. Financial Settlement: Details of all financial matters including rent up to termination, deposit return, and any early termination fees
6. Handover Requirements: Specific conditions for returning the property, including cleaning, repairs, and restoration obligations
7. Release and Discharge: Mutual release of obligations under the original tenancy agreement post-termination
8. Governing Law: Confirmation that the agreement is governed by Hong Kong law
9. Execution: Signature blocks and execution details for all parties
1. Replacement Tenant Provisions: Terms regarding finding a replacement tenant, to be included when the tenant is required to help source a new occupant
2. Property Marketing: Terms for allowing property viewings and marketing, used when the landlord wishes to re-let immediately
3. Utilities and Services: Specific provisions for handling utility accounts and services, included when these need special attention
4. Renovation Works: Terms relating to any renovation or restoration works, included when property modifications were made during the tenancy
5. Break Fee Installments: Payment schedule for break fees, included when parties agree to installment payments
1. Schedule 1 - Property Details: Detailed description of the property including address and included fixtures/fittings
2. Schedule 2 - Financial Statement: Detailed breakdown of all financial calculations including rent, deposits, and fees
3. Schedule 3 - Handover Checklist: Comprehensive list of items to be checked during property handover
4. Appendix A - Original Tenancy Agreement: Copy or key details of the original tenancy agreement being terminated
5. Appendix B - Property Condition Report: Current condition report to be used as reference for handover requirements
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