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Lease modification agreement

Modification lease agreement 2026

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The document is a Modification of Lease Agreement between a Lessor and Lessee, outlining the terms for modifying an existing lease agreement. It includes details about the parties involved, the effective date of modifications, and states that all provisions of the original lease remain in effect except as modified. The document also includes spaces for signatures and notary acknowledgment.

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Click ‘Get Form’ to open the modification lease agreement in the editor.
Begin by entering the date of the agreement in the designated field at the top of the form.
Fill in the name of the Lessor and their corporation details, including state and address.
Next, input the name of the Lessee along with their corporation information in a similar manner.
Specify the original Lease Agreement date and attach it as Exhibit A, ensuring all relevant property details are included in Exhibit B.
Clearly outline any modifications to be made to the original Lease Agreement in the provided section.
Finally, ensure both parties sign and print their names along with their titles before completing any notary requirements as per your state’s regulations.

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is the difference between lease modification and lease termination?

A lease termination results in a gain or loss charged to the income statement immediately. However, a modification does not result in an immediate charge to the income statement, unless the modification is a considered a partial termination.

What happens if I modify a lease?

If a separate contract is not created when modifying the lease, the lessee must re-measure their lease liability and adjust the value of the leased asset. Meanwhile, the lessor must mirror that by re-measuring their lease receivable and deferred inflow of resources.

Is a lease modification the same as a separate lease?

Where a new lease is not accounted for as a separate lease, it is treated as a lease modification under IFRS 16, paragraph 45. As the new lease is entered into on 1 June 2025, the modification date is 1 June 2025.

What is a lease modification?

A lease modification is defined as a change in the scope of a lease, or the consideration for a lease, that was not part of the original terms and conditions of the lease.

What is a lease modification agreement?

The modification grants the lessee an additional right of use not included in the original lease (for example, the right to use an additional asset). The lease payments increase commensurate with the standalone price for the additional right of use, adjusted for the circumstances of the particular contract.

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