Surrender of Sublease Agreement

Generally a sublease is for a fixed term (e.g. one year), which means that the Original Tenant and the New Tenant are contractually bound for the duration of the sublease term—the New Tenant must continue paying rent and the Original Tenant must continue to allow the occupancy of the premises for the entire term of the sublease. However, under certain circumstances, both parties may wish to end the sublease prior to the expiration of the sublease term. In this case, the parties should enter a Surrender Agreement. This agreement is simply a written record of their agreement to end the sublease early. (continued ...)