Letter Format for Mutual Cancellation of a Lease Agreement

The parties to an agreement have the legal rights to enter into a cancellation agreement to mutually terminate an existing contract between them.

The cancellation agreement needs to be in writing. All the parties need to duly sign it and seal it, if necessary. Any one or more witnesses may also sign the agreement.

Following examples are for mutual cancellation of lease agreements. You can modify them as you may seem appropriate.

TEMPLATE #1

MUTUAL CANCELLATION OF LEASE

To Whom It May Concern,

In exchange for valuable consideration, (Name of the Lessee) (the "Lessee") and (Name of the Lessor) (the "Lessor"), parties to a lease agreement dated _______ (Lease), hereby agree to mutually terminate and cancel said Lease as of (Date). All rights and obligations under the Lease will be cancelled, except for any obligations accruing prior to the termination date. This agreement is binding on the parties, their successors, assigns, and personal representatives.

Signed under seal this _th day of (Month), (Year).

    (Signature)

(Name of the Lessee)

The "Lessee"

Dated _________

    (Signature)

(Name of the Lessor)

The "Lessor"

Dated _________

TEMPLATE #2

Cancellation of Lease Agreement

We, the undersigned, have reached an agreement to end the contract and accept the terms outlined hereunder:

• This cancellation agreement signifies a mutual termination of the lease agreement dated ______ between the tenant i.e. Mr. (Name) and the landlord i.e. Mr. (Name).

• The effective date of this cancellation agreement is (Date).

• This agreement can be used to waive the mandatory 30-day notice required to terminate the lease agreement.

• Both parties acknowledge that this mutual termination cannot be reversed without the written consent of the landlord.

• Both the tenant and the landlord are aware that no monthly maintenance fees will be paid by the tenant after the effective date, even if the tenant continues to occupy the unit.

    (Signature)

(Name of the Tenant)

Tenant

(Address)

(Phone Number)

Dated _________

    (Signature)

(Name of the Landlord)

Landlord

(Address)

(Phone Number)

Dated _________