Final answer:
A termination clause is used to terminate another real estate contract by giving a written notice of intention to terminate with a 30-day notice period. The tenant may be liable for additional rent and damages if they hold over beyond the termination date or fail to vacate all possessions.
Step-by-step explanation:
The kind of real estate contract used to terminate another real estate contract is called a termination clause. This clause allows either party to give a written notice of intention to terminate the contract, typically with a 30-day notice period. If the tenant holds over beyond the termination date or fails to vacate all possessions, they may be liable for additional rent and damages due to the owner's loss of prospective new renters.