Get Started

A real estate Sublease is a document that specifies the rights and obligations of an existing Tenant and another person ("Subtenant") who desires to sublet certain property. The underlying lease between the Tenant and the Landlord is referred to as the "Prime Lease." The original Landlord will continue to be referred to as the "Landlord" in the sublease. After signing the sublease and obtaining any necessary Landlord consent, the Subtenant is entitled to possession of the property for the duration of the sublease, which is often the full remaining term of the Prime Lease. The Subtenant "steps into the shoes of" the Tenant.

This program provides a simple sublease that should be used only when the Subtenant agrees to be bound by nearly all of the original terms of the Prime Lease. A copy of the Prime Lease must be attached to the sublease. Some flexibility is allowed with regard to the sublease payments and/or the term of the sublease. However if the parties expect to modify other provisions from the Prime Lease, this document should not be used. In that event, you should consult an attorney who can prepare a more flexible document.

A WRITTEN sublease should be used whenever property is sublet, in order to reduce misunderstandings between the Tenant, the Subtenant and the Landlord.

(Download)

This Surrender of SubLease (“Agreement”) dated ______________, by and between _______________("Tenant") and _____________ ("SubTenant").

Whereas by a lease ("Lease") dated ________, and premises described in the attached Exhibit 1 ("Leased Premises") for a term __________ years upon and subject to the terms and conditions contained in the Lease; and,

Subject to the provisions hereinafter contained, the rents reserved and contained in the Lease have been completely paid, and the parties have agreed that the SubTenant has surrendered the Leased Premises and the Lease to the Tenant as of ___________, ("Termination Date") in order that the estate, term and interest of the SubTenant therein may merge and be extinguished upon the terms hereinafter contained.

Therefore in consideration of the premises and the terms and conditions hereinafter set forth, other good and valuable consideration and the sum of one dollar now paid by each party to the other (the receipt and sufficiency of which are hereby acknowledged), the parties agree as follows:

1. The parties acknowledge, confirm and agree that the foregoing recitals are true in substance and in fact.

2. SubTenant surrenders to Tenant, as of Termination Date, Leased Premises and Lease and all rights hereunder to the intent that the unexpired residue of the term of Lease and any renewals shall be merged and extinguished in the reversion, and SubTenant hereby releases in favor of Tenant, as of Termination Date, all of its right, title and interest in and to Leased Premises and Lease.

3. From and after Termination Date (but, for greater certainty, not before such date), each party releases, remises and forever discharges the other from the performance of all covenants contained in Lease and the obligation for all claims hereunder thereafter arising and the parties agree that as and from such date (but, for greater certainty, not before such date), Lease shall be of no further force and effect and the parties shall be relieved of all further liability and obligation under Lease.

4. Each party represents and warrants with the other that it has the good right, full power and authority to assign and surrender Leased Premises and Lease in the manner aforesaid, and that, as of Termination Date, none of the parties shall have executed any other instruments, deeds, or other documents pursuant to which Lease and the unexpired residue of the term thereof, shall in any way be charged, encumbered, assigned, or otherwise transferred.

5. Each party agrees with the other that it will, at all times hereafter, upon the reasonable request of any of the other parties, execute all such further documents in respect of the surrender of Leased Premises and the lease as may be required to give effect to this Agreement.

6. This Agreement shall inure to the benefit and be binding upon the parties hereto, their respective successors and assigns.

In witness whereof, the parties hereto have duly executed this Agreement as of the date first above written.

________________ _________________

Tenant SubTenant

________________

Witness

Enc. Exhibit 1: Description of Leased Premises

Exhibit 1: Description of Leased Premises

Review List

This review list is provided to inform you about this document in question and assist you in its preparation. This document finalizes an old Tenant/SubTenant/Lease situation and extinguishes the liabilities between the parties. It is not always done but is a helpful form of legal well care.

1. Keep signed copies with the original Lease it relates to. This is normally your last legal dealing with the Lease in question so you can put these final papers in permanent storage, as a rule, after this document is completed and signed off on by both parties. If you are the Tenant, this document may have some value for a New SubTenant in this space. Otherwise, it is rarely used in an active capacity after signature.