Lease surrender
An agreement between landlord and tenant to bring a lease to an end before its contractual expiry date.
Related terms
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Lease
A legal agreement giving a tenant the right to use property or an asset for a defined period on agreed terms.
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Lease liability
An amount or obligation arising under a lease, such as unpaid rent, service charges, dilapidations or guaranteed lease commitments.
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Break clause
A lease term allowing the landlord, tenant or both to end the lease early if specified conditions and notice requirements are met.
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