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The Lease Cancellation Form is a crucial legal document used in Malaysia when parties mutually agree to terminate an existing lease agreement before its natural expiration. This document is essential for both residential and commercial properties, ensuring compliance with Malaysian property law, including the National Land Code 1965 and Contracts Act 1950. It should be used when both landlord and tenant agree to early termination, documenting the terms of separation, settlement of financial obligations, property handover requirements, and mutual release from future commitments. The form provides legal protection for all parties and helps prevent future disputes by clearly documenting the termination terms and conditions.

1. Parties: Identification of the landlord and tenant, including their full names, identification numbers, and addresses

2. Background: Reference to the original lease agreement including its date, property address, and term

3. Definitions: Key terms used in the cancellation agreement

4. Effective Date of Cancellation: Clear statement of when the lease termination takes effect

5. Mutual Agreement to Terminate: Declaration that both parties agree to terminate the lease

6. Security Deposit Settlement: Terms for the return or forfeiture of the security deposit

7. Outstanding Payments: Settlement of any remaining rent, utilities, or other charges

8. Property Handover: Requirements and procedure for returning the property to the landlord

9. Release of Obligations: Mutual release of future obligations under the original lease

10. Governing Law: Statement that the cancellation is governed by Malaysian law

11. Execution: Signature blocks for all parties and witnesses