Middlesex Massachusetts Agreed Termination of Lease and Surrender of Premises
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FAQ
Surrender clause refers to a lease clause whereby the lessee is given the privilege of surrendering his rights and terminating his liability upon the giving of a stipulated notice or the payment of a designated sum of money, or, in some cases, without either of these formalities.
Under California state law, a landlord can terminate a month-to-month tenancy by serving a 30-day written notice if the tenancy has lasted less than one year, or a 60-day notice if the tenancy has lasted more than one year.
A surrender agreement, sometimes called a surrender and acceptance agreement, or a deed of surrender, is a legal document that temporarily transfers the ownership of property until certain conditions are met. Surrender agreements are most commonly used in real estate to terminate property lease agreements.
Termination clauses, also called severance clauses, authorize parties to terminate an agreement without breaching the contract under early termination and mutual termination. Parties can avoid a dispute by allowing a termination clause to trigger for a previously agreed upon reason.
Surrender of the lease This can be done formally, by deed, but this is not always necessary. If the landlord and tenant agree that the lease will be surrendered and they act in a way that is inconsistent with the lease continuing, the lease will be surrendered 'by operation of law'.
Outside of the context of insolvency a lease can only be surrendered consensually, in other words a landlord cannot be forced or obliged to agree a surrender and there may be good reason why a landlord chooses not to accept a surrender.
It is possible to unilaterally terminate a contract where there has been a sufficiently serious breach of a fundamental condition going to the root of the contract. It follows that, in terminating the contract, no formal communication between the parties is required.
The agreement concluded for an indefinite period of time may be unilaterally terminated by either party, subject to a reasonable period of notice. By adopting this general rule, if the lease was made without a determination of the duration, either party may terminate the contract by notice.
A deed of surrender is a legal document that transfers property ownership for a given time period provided certain conditions are met. A deed of surrender lets one party, such as a renter, relinquish his or her claims on a particular piece of property to a landlord or other party that holds the underlying title.
Definition. A unilateral contract is a contract created by an offer than can only be accepted by performance.
