DEED OF SURRENDER

DEED OF SURRENDER

When a Tenant walks away from a lease, the legal relationship does not automatically end.

Without the right document, you may still be tied to a lease you thought had come to an end.

Many Landlords and Tenants believe that handing over the keys is enough to end a lease. It is not.

Unless the tenancy is properly brought to an end, issues can arise over unpaid rent, service charges, repairs, possession or other duties even after the Tenant has left.

That is why a Deed of Surrender is important. It is the legal document with which a Tenant, with the Landlord’s consent, voluntarily gives up the unexpired duration of a lease before its agreed expiration date.

Once well prepared and signed, it lawfully terminates the lease, returns possession of the property to the Landlord and releases both parties from their continuing duties under that lease.

But a poorly drafted Deed of Surrender can create more problems than it solves.

Important issues like rent owed, caution fee, repairs, fittings, service charges, handover and the actual date the lease ends, must be clearly addressed.

Missing these details can result in avoidable disputes.

So engage a trusted Property/Real Estate, and Business/Commercial Lawyer to prepare or review al Deed of Surrender and ensure your rights are fully protected.

At Apex Chambers, we advise persons in Nigeria and abroad to end property transactions the right way to avoid wahala.

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

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