Deed of Surrender
I. Parties
This Deed of Surrender ("Deed") is made on [Date], between [Your Name], located at [Your Company Address], from now on referred to as the "Surrendering Party," and [Name of Receiving Party], located at [Receiving Party Address], from now on referred to as the "Receiving Party."
II. Background
Whereas, the Surrendering Party is the current holder of a commercial property lease agreement, hereinafter referred to as the "Surrendered Asset,"
And whereas, the Surrendering Party wishes to voluntarily relinquish and surrender all rights, title, and interest in and to the Surrendered Asset,
And whereas, the Receiving Party, being the landlord of the aforementioned commercial property, agrees to accept the surrender of the Surrendered Asset.
III. Surrender
The Surrendering Party hereby irrevocably surrenders and relinquishes all rights, title, and interest in and to the Surrendered Asset, effective as of the date of this Deed.
The Surrendering Party agrees to deliver possession of the Surrendered Asset to the Receiving Party upon execution of this Deed, free from any liens, encumbrances, or claims.
IV. Release of Liabilities
The Surrendering Party hereby releases and discharges the Receiving Party from any claims, liabilities, obligations, or responsibilities arising from or related to the Surrendered Asset, whether known or unknown, contingent or absolute, at law or in equity.
V. Indemnification
The Surrendering Party shall indemnify and hold harmless the Receiving Party from any claims, losses, damages, liabilities, or expenses incurred by the Receiving Party arising out of the Surrendered Asset before the effective date of this Deed.
VI. Governing Law
This Deed shall be governed by and construed following the laws of [Jurisdiction].
VII. Execution
This Deed may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute the same instrument.
IN WITNESS WHEREOF, the Parties have executed this Deed as of the date first above written.
[Your Name]
[Date Signed]
[Name of Receiving Party]
[Date Signed]
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