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Early Release Tenancy Agreement

Early Release Tenancy Agreement Template for Nigeria

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Key Requirements PROMPT example:

Early Release Tenancy Agreement

"I need an Early Release Tenancy Agreement for my residential property in Lagos, Nigeria, where my tenant has agreed to terminate the lease three months early on March 1, 2025, due to job relocation, and we need to document the deposit return and utility transfer arrangements."

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Document background
The Early Release Tenancy Agreement serves as a crucial legal instrument in Nigerian property law, designed to facilitate the premature termination of lease agreements where both parties consent to early release. This document is essential when circumstances require tenants to vacate properties before the original lease expiration, such as job relocations, property sales, or other mutually agreed situations. It ensures compliance with Nigerian federal and state property laws while protecting both landlord and tenant interests. The agreement includes comprehensive provisions for financial settlements, property handover procedures, and mutual releases, making it suitable for both residential and commercial properties. It's particularly relevant in urban centers like Lagos, Abuja, and Port Harcourt, where dynamic property markets require flexible tenancy solutions.
Suggested Sections

1. Parties: Identification of the landlord and tenant with full legal names and addresses

2. Background: Context of the agreement, reference to the original tenancy agreement, and reason for early release

3. Definitions: Key terms used throughout the agreement including 'Early Release Date', 'Original Tenancy Agreement', 'Property', etc.

4. Early Release Terms: Specific terms and conditions of the early release, including the agreed termination date

5. Financial Settlement: Details of any financial arrangements, including rent payments up to release date, deposit return, and any early termination fees

6. Property Inspection and Condition: Requirements for property condition upon surrender and inspection arrangements

7. Handover Obligations: Specific requirements for returning keys, removing possessions, and clearing the property

8. Release and Discharge: Mutual release from obligations under the original tenancy agreement

9. Governing Law: Confirmation that the agreement is governed by Nigerian law

10. Execution: Signature blocks and execution requirements

Optional Sections

1. Utilities and Services: Include when there are specific arrangements for transfer or termination of utilities

2. Outstanding Repairs: Include when there are specific repair obligations to be addressed before release

3. Third Party Consents: Include when the early release requires approval from mortgagees or other third parties

4. Forwarding Address: Include when specific arrangements for future communications or deposit return are needed

5. Assignment/Subletting Provisions: Include when the early release involves transfer to a new tenant

6. Break Fee Details: Include when there is a specific break fee calculation or payment structure

Suggested Schedules

1. Schedule 1 - Property Details: Detailed description of the property including address and any included fixtures/fittings

2. Schedule 2 - Financial Statement: Breakdown of all financial calculations including rent, deposit, and any adjustments

3. Schedule 3 - Condition Report: Current condition of the property and any agreed repairs or improvements required

4. Appendix A - Original Tenancy Agreement: Copy of the original tenancy agreement being terminated

5. Appendix B - Inspection Checklist: Detailed checklist for final inspection and handover requirements

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions






























Clauses


























Relevant Industries

Real Estate

Residential Property

Commercial Property

Property Management

Legal Services

Housing

Property Development

Facility Management

Corporate Real Estate

Student Housing

Relevant Teams

Legal

Real Estate

Property Management

Facilities

Operations

Compliance

Contract Administration

Tenant Relations

Asset Management

Risk Management

Relevant Roles

Property Manager

Real Estate Agent

Legal Counsel

Tenancy Administrator

Housing Officer

Estate Manager

Facility Manager

Leasing Manager

Property Administrator

Real Estate Lawyer

Compliance Officer

Contract Manager

Tenant Relations Manager

Property Operations Manager

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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