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Termination of Lease Form Oregon: Formally ending Tenancy!
A termination of lease form is a formal document used to cancel or end tenancy before the stipulated expiry date. The landlord or the tenant can use the notice to inform the other party of their intention to cancel their lease agreement.
The terminating party can give a reason(s) for termination, but it is not a legal requirement for short-term contracts. However, a proper notice period must be given to the non-terminating party.
Creating a rental agreement cancellation letter is easy. Once it is ready, you should serve it to the other party. Keep reading to learn how to craft a legally binding lease contract cancellation notice and more.
Reasons to Use a Lease Agreement Cancellation Letter
A landlord can use a Oregon termination of lease form when they want tenants to move out of their property so they can sell or renovate it. They can also give out the notice when they want to use the property for any other purpose. In addition, if a tenant has difficulties paying rent, a landlord can serve them a notice to vacate.
A tenant can use the termination of lease form when they want to move out of a property before the lease expiry date due to a job transfer or safety/health concerns. They can also give a notice letter when they want to downsize or upsize.
What are the Legal Requirements for a Lease Contract Termination Letter?
The state is strict about landlord-tenant contracts and relationships. It has strict laws and regulations governing lease agreement terminations. For instance, the state requires a thirty-day notice when terminating month-to-month tenancies. In addition, a landlord must give a justified reason when canceling lease agreements beyond one year.
Details That Must Be Included in a Formal Rental Contract Cancellation Letter
The notice must include the personal details of both parties, such as their names, addresses, and contact information. In addition, the document should include the physical address of the premises and a statement showing the intent to cancel the lease early.
Most importantly, a mutual lease termination agreement should have the termination date and the terminating party's signature.
How to Serve a Rental Agreement Cancellation Letter
Here are the two methods you can use to serve the notice to the non-terminating party;
What Happens After Serving the Notice to the Other Party?
After the letter is delivered to the non-terminating party, they will have sufficient time to vacate or look for a new tenant. If a tenant occupies the premises beyond the termination date, the landlord should file an unlawful detainer lawsuit. The court will grant them an eviction order, requiring law enforcement officers to evict the tenant from the premises.
Creating a Termination of Lease Letter Quickly
If you want to quickly create a rental agreement cancellation notice, you should fill out a termination of lease form template. Once you have completed it with accurate information, download it and print it. Sign the printed form and serve it to the other party.
The best part is that Forms.legal has up-to-date templates that you can utilize to draft the document. The process is as easy as filling out the form online, downloading, and printing it.