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Cancellation of Lease

Legal Scales Whether you are the landlord or the tenant, and whether the lease in question is of commercial or residential property, US Legal forms has the right cancellation of lease form for you. All forms are easily tailored to meet your specific needs. Simply select your State and choose the form most appropriate for your situation.

Who may cancel a lease? Generally, the lessor or lessee may cancel a lease with the approval of the other party.

What type of lease may be cancelled? Any type of lease may be cancelled by the parties, provided both agree to the termination.

What effect does a cancellation have on the parties to the lease? Because a lease is a contract, the rights and obligations of the parties will be determined by the terms of the agreement. It is therefore wise to include as much specific information as possible regarding the rights and obligations of the parties after the lease has been cancelled. If it is the parties' intent to release each other from their mutual obligations under the lease and return each party to the status each had prior to entering into the lease, such specifics must be included.

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