Extraordinary Grounds For Termination Of Lease Agreements In Residential And Commercial Properties
Important reasons
Each party may terminate the lease agreement at any time by giving legal notice of termination if there are important reasons that make the continuation of the lease relationship unbearable for them. Here, the party encountering an unforeseeable and intolerable development may terminate the lease agreement by compensating the other party to a certain extent for the damages arising from early termination. Here, the judge will assess whether the termination request is valid and, taking into account the circumstances and conditions, determine the financial consequences of the extraordinary termination notice according to the nature of the event.
Tenant’s bankruptcy
If the tenant goes bankrupt after the delivery of the leased property, the lessor may request security for the rent to be paid. The lessor shall give the tenant and the bankruptcy estate a reasonable period of time in writing to provide security. If security is not provided within this period, the lessor may terminate the agreement immediately without complying with any termination notice period.
Death of the tenant
The lease agreement does not automatically terminate upon the death of the tenant. The heirs take over the lease agreement (jointly) along with the inheritance and become parties to the agreement. The heirs may terminate the contract for the nearest termination date by complying with the statutory notice period. This method of termination is possible for both fixed-term and indefinite-term workplace lease agreements.