Roommate Release Agreement - Template, Sample Form Pro · US-law

ROOMMATE RELEASE AND ASSUMPTION AGREEMENT

State of ________

RECITALS.

A. This Roommate Release and Assumption Agreement (the “Agreement”) is made and entered into on ________ (the “Effective Date”), by and among the following party who is vacating the shared dwelling (the “Former Roommate”):

________
________

the following party who will remain in the shared dwelling (the “Remaining Roommate”, and together with the Former Roommate, the “Roommates”):

________
________

and the following party who owns or manages the premises (the “Landlord”):

________
________

B. WHEREAS, the Roommates are co-tenants of the residential premises (the “Premises”) located at:

________

C. WHEREAS, the Roommates and the Landlord are parties to a written residential lease dated ________ (the “Lease”), a true and correct copy of which is attached hereto as Exhibit A and incorporated herein by reference, governing the Premises and ending on ________ (the “Lease Term”).

D. WHEREAS, the Former Roommate desires to be released from all rights, liabilities, and obligations under the Lease accruing on and after the Move-Out Date (as defined below), and the Remaining Roommate desires to assume full responsibility for all such liabilities and obligations for the remainder of the Lease Term.

E. WHEREAS, the Landlord is willing to consent to the release of the Former Roommate on the terms and conditions set forth herein.

NOW, THEREFORE, in consideration of the foregoing recitals, which are incorporated herein, and the mutual covenants, promises, and benefits set forth below, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

§ 1. Surrender of Possession. The Former Roommate shall relinquish and surrender possession of the Premises on ________ (the “Move-Out Date”), and shall remove all of the Former Roommate’s personal property and return all keys, access devices, and remote controls to the Premises on or before the Move-Out Date.

§ 2. Assignment of Security Deposit. Effective as of the Move-Out Date, the Former Roommate hereby assigns, transfers, and conveys to the Remaining Roommate all of the Former Roommate’s right, title, and interest in and to any security deposit, prepaid rent, or other deposit held by the Landlord under the Lease in the amount of $________ (________), and waives any claim against the Landlord for the return thereof. As between the Roommates, the Former Roommate acknowledges receipt of $________ from the Remaining Roommate as consideration for such assignment, the receipt of which is hereby acknowledged.

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§ 4. Indemnification by Remaining Roommate. The Remaining Roommate shall indemnify, defend, and hold harmless the Former Roommate from and against any and all claims, demands, damages, losses, liabilities, costs, and expenses (including reasonable attorneys’ fees) arising under or relating to the Lease and accruing on or after the Move-Out Date.

§ 5. Release of Remaining Roommate by Former Roommate. The Former Roommate hereby releases and forever discharges the Remaining Roommate from any and all claims, demands, liabilities, and obligations arising under or relating to the Lease, including but not limited to the payment of rent, from and after the date the Former Roommate relinquishes possession of the Premises.

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§ 7. No Other Modification. Except as expressly modified by this Agreement, the Lease shall remain in full force and effect in accordance with its terms, and the Remaining Roommate and the Landlord ratify and confirm the same.

§ 8. Representations and Warranties. Each party represents and warrants that it has full authority to enter into this Agreement, that the execution and performance hereof does not violate any agreement or obligation by which it is bound, and that no claims released hereunder have been assigned to any third party.

§ 9. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of ________, without regard to its conflict-of-laws principles. The parties consent to the exclusive jurisdiction and venue of the state and federal courts located in ________ County, ________.

§ 10. Attorneys’ Fees. In the event of any action or proceeding to enforce or interpret this Agreement, the prevailing party shall be entitled to recover its reasonable attorneys’ fees and costs.

§ 11. Notices. All notices under this Agreement shall be in writing and delivered personally, by nationally recognized overnight courier, or by certified mail, return receipt requested, to the addresses set forth above, or to such other address as a party may designate by written notice.

§ 12. Entire Agreement; Amendment. This Agreement, together with the Lease and Exhibit A, constitutes the entire agreement among the parties with respect to its subject matter and supersedes all prior negotiations and understandings. This Agreement may be amended only by a writing signed by all parties.

§ 13. Severability. If any provision of this Agreement is held invalid or unenforceable, the remaining provisions shall continue in full force and effect, and the invalid provision shall be reformed to the minimum extent necessary to render it enforceable.

§ 14. Counterparts; Electronic Signatures. This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument. Signatures delivered electronically or by facsimile shall be deemed valid and binding pursuant to the federal E-SIGN Act and applicable state law.

IN WITNESS WHEREOF, the parties have executed this Agreement in the manner prescribed by law as of the Effective Date.

EXECUTION:

_________________________________

________, Former Roommate

_________________

Date

___________________________________

________, Remaining Roommate

_________________
Date

_________________________________

________, Landlord

_________________
Date

ACKNOWLEDGMENT

State of ________

County of ________

On ________, before me, ________, a Notary Public, personally appeared the persons whose names are subscribed above, who proved to me on the basis of satisfactory evidence to be the persons whose names are subscribed to the within instrument, and acknowledged to me that they executed the same in their authorized capacities.

WITNESS my hand and official seal.

_________________________________

Notary Public

My commission expires: ________