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Rental Termination Agreement for Nigeria

Rental Termination Agreement Template for Nigeria

This document serves as a formal agreement to terminate a rental lease in Nigeria, governed by Nigerian property law and relevant state tenancy regulations. It outlines the terms and conditions for ending the tenancy relationship between landlord and tenant, including specific termination dates, property handover procedures, security deposit arrangements, and mutual obligations of both parties. The agreement ensures compliance with local property laws while providing clear documentation of the termination process and protecting the interests of all involved parties.

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What is a Rental Termination Agreement?

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.

What sections should be included in a Rental Termination Agreement?

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

What sections are optional to include in a Rental Termination Agreement?

1. Outstanding Payments: Section detailing any remaining rent, utility bills, or other charges to be settled before termination

2. Forwarding Address: Section for tenant's new address for future correspondence and deposit return

3. Keys and Access Devices: Details about return of keys, access cards, and other property access devices

4. Abandoned Property: Procedures for handling any property left behind by the tenant

5. Early Termination Fee: Include if the termination occurs before the original lease end date

6. Utilities Transfer: Procedures for transferring or disconnecting utilities, if applicable

7. Renovation Arrangements: Include if specific renovation or repair works are agreed upon before vacation

What schedules should be included in a Rental Termination Agreement?

1. Schedule 1: Property Condition Report: Detailed documentation of the property's condition at termination, including photographs

2. Schedule 2: Inventory Checklist: List of fixtures, fittings, and items included in the original lease and their current condition

3. Schedule 3: Outstanding Payments Schedule: Detailed breakdown of any remaining payments or deductions from security deposit

4. Schedule 4: Handover Checklist: Comprehensive list of items to be checked during the final handover process

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Nigeria

Publisher

Genie AI

Cost

Free to use
Relevant legal definitions


























Clauses


























Relevant Industries

Real Estate

Residential Property

Commercial Property

Retail

Industrial

Office Space

Hospitality

Education

Healthcare

Relevant Teams

Legal

Real Estate

Facilities Management

Operations

Property Management

Asset Management

Tenant Relations

Administration

Compliance

Relevant Roles

Property Manager

Real Estate Agent

Facilities Manager

Legal Counsel

Housing Officer

Lease Administrator

Property Administrator

Real Estate Manager

Asset Manager

Operations Manager

Property Operations Director

Tenant Relations Manager

Commercial Property Manager

Residential Property Manager

Industries





Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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