DEED OF SURRENDER

DEED OF SURRENDER

Imagine signing a 10-year lease then after 4 years, life happened and you need to back out. What do you do? Sign a Deed of Surrender.

In property law, a lease is like a binding marriage between Landlord and Tenant and is meant to last for the agreed period of time.

But life rarely follows a straight line. Businesses fold, careers relocate people, financial burdens shift and sometimes personal circumstances make it impossible for you to continue in a property.

Do not think packing out and walking away ends the deal. The lease still runs and you will still be tied to rent, service charges and other obligations until the very last day.

That is why a Deed of Surrender exists to save both Landlord and Tenant.

A Deed of Surrender is a formal legal document through which a Tenant willingly gives up the unexpired portion of a lease, and the Landlord accepts the property back.

It is not abandonment and it is not a breach. It is a lawful, voluntary and mutual agreement to bring the lease to an early end. Once signed, the Tenant is released from further liabilities and the Landlord regains full control of the property.

For a Tenant, it means no lingering debts or ugly surprises later. For a Landlord, it is an immediate legal opportunity to re-let the property without issues.

The Deed of Surrender is the clean exit door from a lease that no longer fits your life or business.

Close it lawfully.

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APEX CHAMBERS, Law Firm of Property/Real Estate and Business/Corporate/Commercial Lawyers, Attorneys, Barristers, Solicitors Advocates, Legal Practitioners rendering legal services, Legal Consultants and Notary Public with Law Office in Port Harcourt, Rivers State, Nigeria

Phone: +234(0)7030868694 (Calls & Whatsapp)
Email: info@apexchambersglobal.com
Website: www.apexchambersglobal.com