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The Rental Termination Agreement is a crucial legal document used in Nigeria when either a landlord or tenant wishes to formally end a lease agreement before or at its natural conclusion. This document is essential for protecting both parties' interests and ensuring a smooth transition of property possession. It must comply with Nigerian federal property laws and state-specific tenancy regulations, particularly the Recovery of Premises Act and relevant state tenancy laws. The agreement typically includes detailed provisions for property inspection, security deposit return, outstanding payments, and final utility settlements. It's particularly important in both residential and commercial contexts, where clear documentation of the termination process helps prevent future disputes and ensures all parties understand their rights and obligations during the termination process.

1. Parties: Identification of the Landlord and Tenant with their full legal names, addresses, and contact information

2. Background: Brief overview of the existing tenancy agreement, including its start date, property address, and reason for termination

3. Definitions: Definition of key terms used throughout the agreement including 'Premises', 'Termination Date', 'Security Deposit', etc.

4. Termination Date: Specific date when the tenancy will end and the tenant must vacate the premises

5. Security Deposit: Terms for the return of the security deposit, including deductions if any, and timeline for return

6. Property Inspection: Requirements for final inspection, condition assessment, and documentation of any damage

7. Tenant Obligations: Responsibilities of the tenant including property cleaning, repairs, and restoration to original condition

8. Landlord Obligations: Responsibilities of the landlord including inspection, deposit return, and provision of necessary documentation

9. Release of Liability: Mutual release of future claims related to the tenancy, subject to completion of stated obligations

10. Governing Law: Specification that the agreement is governed by Nigerian law and relevant state regulations

11. Signatures: Space for dated signatures of all parties and witnesses