A Lease Release Agreement is a legal document between a landlord and tenant that releases the tenant from their obligations under the lease agreement. This document serves as a form of mutual agreement between the two parties in order to end their contractual obligations concerning the lease. When both parties sign this document, they are legally releasing each other from the terms of the existing lease agreement and its associated obligations. By doing so, landlords and tenants can avoid potential legal complications down the road while maintaining an amicable business relationship.