What is the process for terminating a commercial real estate lease?
In California, the process for terminating a commercial real estate lease varies depending on the circumstances. Generally, a tenant must provide the landlord with written notice about the termination of the lease before the process can begin. The amount of notice required depends on the type of lease and the terms of the agreement. In some cases, the tenant may be allowed to terminate a lease without any notice. Once the tenant has provided written notice to the landlord, the lease will be considered terminated. At this point, the tenant must ensure that all remaining payments due to the landlord have been made, and any repairs needed to the property must be completed. The tenant should also return any keys or access codes to the landlord. Once all of the tenant’s obligations have been fulfilled, the landlord must return any security deposits that have been paid by the tenant. The landlord may also charge the tenant for any damages that have been done to the property. After all payments have been made and the keys and access codes have been returned, the lease will be officially terminated.
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