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Agreement To Cancel Lease Form for Philippines

Agreement To Cancel Lease Form Template for Philippines

A formal legal document governed by Philippine law that facilitates the mutual termination of an existing lease agreement between a lessor and lessee. This document outlines the terms and conditions for ending the lease arrangement before its original termination date or at its natural conclusion, including provisions for the settlement of outstanding obligations, return of security deposits, and release of both parties from future commitments. The agreement ensures compliance with relevant provisions of the Civil Code of the Philippines and applicable local property laws while providing clear documentation of the parties' mutual consent to terminate the lease relationship.

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What is a Agreement To Cancel Lease Form?

The Agreement To Cancel Lease Form is a crucial legal instrument used in the Philippines when parties to a lease agreement mutually decide to terminate their contractual relationship. This document becomes necessary when both the lessor and lessee agree to end their lease arrangement, whether before the original termination date or at its natural conclusion. The agreement is structured to comply with the Civil Code of the Philippines and relevant property laws, providing a clear framework for handling security deposits, outstanding obligations, and property surrender. It serves as official documentation of the parties' mutual consent to terminate the lease and includes provisions for releasing both parties from future commitments while addressing any remaining responsibilities. This type of agreement is particularly important in both commercial and residential contexts, as it helps prevent future disputes and provides legal certainty for all parties involved.

What sections should be included in a Agreement To Cancel Lease Form?

1. Parties: Identification of the Lessor and Lessee with their complete legal names and addresses

2. Background: Brief recital of the original lease agreement details including date of execution, property description, and term of lease

3. Definitions: Definitions of key terms used in the agreement including 'Effective Date', 'Original Lease', and 'Property'

4. Mutual Agreement to Cancel: Clear statement of both parties' agreement to terminate the lease and the effective date of cancellation

5. Settlement of Obligations: Statement addressing the settlement of any outstanding rent, utilities, or other payments

6. Return of Security Deposit: Terms for the return of the security deposit, including timing and any deductions

7. Property Surrender: Conditions for the surrender of the property, including its required condition

8. Release of Liabilities: Mutual release of future obligations and liabilities under the original lease

9. Governing Law: Statement that the agreement is governed by Philippine law

10. Execution: Signature blocks for all parties and witnesses

What sections are optional to include in a Agreement To Cancel Lease Form?

1. Property Inspection: Details of final inspection procedures and documentation, used when there are specific condition requirements for property return

2. Outstanding Repairs: List of any repairs or maintenance issues to be resolved, included when there are unresolved maintenance matters

3. Forwarding Address: Lessee's forwarding address for future correspondence, included for residential leases

4. Keys and Access Devices: Specific provisions about return of keys and access devices, used for properties with security systems or multiple access points

5. Third Party Notifications: Requirements for notifying utility companies or other relevant parties, included when such notifications are necessary

What schedules should be included in a Agreement To Cancel Lease Form?

1. Schedule A - Property Condition Report: Detailed documentation of the property's condition at the time of cancellation

2. Schedule B - Settlement Statement: Detailed breakdown of all financial settlements including security deposit deductions if any

3. Schedule C - Inventory of Fixtures and Fittings: List of any fixtures or fittings and their condition, if relevant to the property surrender

4. Appendix 1 - Copy of Original Lease: Reference copy of the original lease agreement being cancelled

5. Appendix 2 - Photographic Evidence: Photos documenting the property's condition at surrender, if required

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

Philippines

Publisher

Genie AI

Document Type

Cancellation Letter

Sector

Sales

Cost

Free to use
Relevant legal definitions
























Clauses





















Relevant Industries

Real Estate

Retail

Commercial Office Space

Industrial

Residential Property

Hospitality

Healthcare

Education

Manufacturing

Warehousing

Agriculture

Relevant Teams

Legal

Real Estate

Property Management

Facilities Management

Operations

Asset Management

Compliance

Administrative

Contract Management

Risk Management

Relevant Roles

Property Manager

Real Estate Manager

Facilities Manager

Legal Counsel

Contract Administrator

Asset Manager

Leasing Manager

Property Administrator

Real Estate Officer

Operations Manager

Building Manager

Tenant Relations Manager

Real Estate Broker

Corporate Real Estate Manager

Compliance Officer

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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