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Dissolution Of Lease Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

Dissolution Of Lease Agreement

"I need a Dissolution of Lease Agreement for my residential apartment in Dubai Marina, with a mutually agreed termination date of March 1, 2025, including standard settlement terms and security deposit return within 14 days of handover."

Document background
The Dissolution Of Lease Agreement is a critical document in UAE real estate practice, used when both parties mutually agree to terminate an existing lease before its natural expiration date. It operates within the framework of UAE Federal Law No. 5 of 1985 and emirate-specific regulations such as Dubai Law No. 26 of 2007 and Abu Dhabi Law No. 20 of 2006. This document becomes necessary in various situations, including early tenant departure, property sale, or mutual agreement to end the lease. The agreement includes essential elements such as final settlement calculations, property handover procedures, and mutual releases, ensuring a clear and legally compliant termination process that protects all parties' interests.
Suggested Sections

1. Parties: Identification of the Landlord and Tenant with full legal names and addresses

2. Background: Details of the original lease agreement including date, property details, and reason for dissolution

3. Definitions: Definitions of key terms used in the agreement including 'Lease Agreement', 'Property', 'Termination Date', and 'Settlement Amount'

4. Mutual Agreement to Terminate: Express agreement by both parties to terminate the lease and the effective termination date

5. Settlement of Accounts: Details of all financial settlements including rent, utilities, maintenance charges, and other payments

6. Property Handover: Specific terms and conditions for returning the property, including condition requirements and inspection procedures

7. Release and Discharge: Mutual release from future obligations under the original lease agreement

8. Governing Law and Jurisdiction: Confirmation that the agreement is governed by UAE law and specification of jurisdiction

9. Execution: Signature blocks for all parties and witnesses

Optional Sections

1. Security Deposit: Terms for the return of security deposit, used when a security deposit was part of the original lease

2. Outstanding Repairs: Details of any repairs or maintenance required before property handover, included if property requires specific attention

3. Utilities Transfer: Procedures for transferring or disconnecting utilities, included when utilities are registered in tenant's name

4. Key Return: Specific provisions about return of keys, access cards, or other property access devices

5. Third Party Notifications: Requirements to notify relevant authorities or service providers, included when required by local regulations

6. Surviving Obligations: List of any obligations that survive the termination, used when certain responsibilities continue post-termination

Suggested Schedules

1. Schedule 1 - Property Details: Detailed description of the property including address and any included fixtures/fittings

2. Schedule 2 - Settlement Calculation: Detailed breakdown of all financial settlements including rent, deposits, and deductions

3. Schedule 3 - Property Inspection Report: Current condition report of the property and list of any damages or required repairs

4. Schedule 4 - Handover Checklist: List of items to be completed/checked during the property handover process

5. Appendix A - Original Lease Agreement: Copy of the original lease agreement being dissolved

6. Appendix B - Photographic Evidence: Photos documenting the property condition at termination (if required)

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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