A magnetic latch for removably latching a first member to a second member includes a magnet emitting a magnetic field carried by the first member and a magnetically attractive catch plate carried by the second member. A release mechanism is provided for moving the magnet relative to the catch plate from a first position in which the catch plate is strongly engaged with the magnetic field to a second position in which the catch plate is weakly engaged with the magnetic field. The release mechanism includes a lever, pivotally mounted to one of the first and second members and a biasing member carried by the other of the first and second members, the lever engaging the biasing member during pivoting of the lever. The release mechanism enables the magnetic engagement of the members to be broken with a relatively small applied force.