Surrender an option
If an individual wants to end their option agreement, they can do so through option surrender. This is usually used when the individual doesn't want to exercise their option anymore, or when the property has been sold. Once the agreement is signed, the individual won't have any rights under the option agreement.
Relevant Contract Types
🧾 Option surrender agreement
A option surrender agreement is a contract between a property owner and a tenant that terminates the tenant's right to occupy the property. The agreement typically includes a clause that releases the tenant from any future liability for rent or damage to the property.
Relevant Contract Types
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