The Tenancy Release Form serves as a crucial document in U.S. rental markets when either party needs to terminate a lease agreement early. This document is typically used when tenants need to relocate unexpectedly, or when both parties mutually agree to end the tenancy before the lease expiration. It addresses key elements such as security deposit handling, property condition assessment, and outstanding financial obligations. The form ensures compliance with both federal housing laws and state-specific landlord-tenant regulations, providing legal protection for all parties involved.
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1. Parties: Identification of landlord and tenant(s) including full legal names and addresses
2. Background: Reference to original lease agreement, its date, and reason for requesting release
3. Definitions: Key terms used in the document including Property, Lease Agreement, Release Date
4. Release Terms: Specific conditions of the release including mutual agreement to terminate the lease
5. Property Inspection: Agreement on property condition and documentation of any damage
6. Security Deposit: Terms for handling security deposit return including timeline and deductions
7. Signatures: Execution block for all parties including date and witness provisions
1. Outstanding Payments: Section detailing any remaining financial obligations including unpaid rent or utilities
2. Keys Return: Section confirming return of all keys, access cards, and other property access devices
3. Forwarding Address: Section for tenant's new contact information for security deposit return and future correspondence
1. Schedule A - Property Inspection Report: Detailed assessment of property condition at time of release including photographs
2. Schedule B - Security Deposit Calculation: Itemized list of any deductions from security deposit with supporting documentation
3. Schedule C - Utility Reading Records: Final meter readings for utilities and confirmation of transfer/termination
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