Memorandum of understanding: commercial lease
The format is fit to be used to address peculiar situations where mostly commercial properties are sought to be vacated on determination of lease
- Solicitor approved
- Plain English makes editing easy
- Guidance notes included
- Money back guarantee
About this document
The execution of this document creates a Memorandum of Understanding between two companies one of whom is the landlord/owner of the premises occupied by the other as a tenant to run a business. The landlord has determined the lease and the tenant company are being offered compensation for vacating the premises.
The format is fit to be used to address peculiar situations where mostly commercial properties are sought to be vacated on determination of lease and precisely where the tenant intended to continue with a renewal of the lease period.
There are no specific legal provisions that govern a legal document of this nature; you still have the liberty to make alterations and additions that exactly suit your situation or the case. With very small changes the document can be altered to use in completely different circumstances such as for residential properties.
Who will use this document?
Any Company, business or individual – holding clear title, finalizing full and final settlement terms with a tenant for peaceful vacation of a rented commercial premises.
Application and features
- Very flexible to suit the requirements of either or both parties;
- Provides a complete framework;
- Protects both sides;
- Objective settlement to avoid unnecessary litigation;
- Saving of money for both parties.
- Appropriate legal provisions - warranties, exclusions, indemnities, etc.
- Objects of agreement clearly defined;
- Dispute resolution;
- Time schedule for payment;
- Successors and assigns;
- Practical terms that protect parties from future disputes.
How other customers rated this document
Average customer rating
"Easy and fulfilled my needs. The documents are accepted by the other parties solicitors without my waiting for my own solicitors to act. Professional documents, easy to use saved my time and money."Roy Butterworth
"The document was clear to read, easy and quick to use. I will recommend Net Lawman due to ease of usability."Clive Bonny
"I was recommended to you some time ago - many thanks for an excellent document. I have you in my "favourites" Easy to navigate website - clearly displayed and simple to understand. Very easy to use and edit document in clear English. It has enabled me to present a professional and relevant document to my customers with ease. I will recommend Net Lawman due to easy to use website, documents in clear English and easy to edit, very reasonable and prompt."Martha Walker