Mutual Release Lease Form 402

• Category: Releases and Waivers - Leases
• State: Multi-State
• Control #: US-00546BG
• Format: Word; Rich Text

Description

The Mutual Release Lease Form 402 is designed to formally terminate obligations between a lessor and a lessee under a lease agreement. This document is crucial for parties who wish to settle any claims associated with the lease, particularly when the lessee has not occupied the premises. Key features include the acknowledgment of the receipt of a settlement amount, the termination of all obligations under the lease, and the release of the lessee from any claims the lessor may have. The form allows both parties to clearly outline the details of the lease, including the premises involved and reasons for the release. To effectively use this form, users should fill in the relevant information, including dates, addresses, and any circumstances necessitating the release. Editing should be done carefully to ensure all details are accurate and agreed upon. This form is particularly useful for attorneys, partners, and property owners involved in real estate transactions, as well as paralegals and legal assistants facilitating lease agreements. It provides a structured way to resolve disputes and frees both parties from future obligations associated with the lease.