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What does termination of a lease mean?

Termination means ending the lease contract, which can occur at the end date of the lease, or earlier, depending on how the lease is written. Default is an omission or failure by either Party to meet a provision of the lease.

What does lease full termination mean?

Definition: A partial or full termination is any amendment to a lease that results in a decrease in the lessees right to use the underlying asset.

Does it hurt your credit to terminate a lease?

Breaking a lease doesnt impact your credit unless you fail to pay any lease-breaking fees or remaining payments due as spelled out in your leases contract. You should read your contract to see what those are and decide if youre willing to pay them.

Is a termination the same as an eviction?

Termination of tenancy is the first step in the eviction process and is often used interchangeably with the term eviction. When terminating tenancy, the owner gives the tenant notice to vacate the unit because of a lease violation(s).