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Surrender Agreement
Practical Law Glossary Item 6-503-3629 (Approx. 2 pages)
Glossary
Surrender Agreement
Also known as a surrender and acceptance agreement or a lease termination agreement. In a leasing context, an agreement between the landlord and the tenant canceling a lease agreement before the expiration date. Typically, the terms of the agreement specify the:
- Tenant agrees to vacate and surrender the premises according to the requirements of the lease.
- Landlord agrees to accept the premises from the tenant and terminate the lease before the stated expiration date.