Lease Termination

The Lease Termination process is used to end or terminate a lease agreement. Once initiated and the termination justification is provided, the process is routed for review and approval.

Once approved, multiple events take place:

The original lease agreement is marked “Terminated” and no further payment or invoice processes are autogenerated from this release record.
The Occupancy Status of the Space record associated with this lease agreement is updated to a “Vacant” status.

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