The Assignment of Lease by Lessor is a crucial document in Singapore property transactions where a landlord wishes to transfer their interest in a lease while keeping the existing lease terms intact. This document is commonly used in property sales, corporate restructuring, or estate planning scenarios. It must comply with Singapore's property laws and registration requirements, including the Conveyancing and Law of Property Act and Land Titles Act. The assignment transfers all rights, titles, and interests of the current lessor to the assignee, while ensuring the tenant's position remains unchanged.
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Key Requirements PROMPT example:
Assignment Of Lease By Lessor
"I need an Assignment of Lease by Lessor to transfer my rights as landlord of a commercial property at 123 Orchard Road to ABC Holdings Pte Ltd, with completion scheduled for March 15, 2025, subject to existing tenant's rights and mortgagee consent."
1. Parties: Identifies and defines the assignor (current lessor), assignee (new lessor), and existing tenant
2. Background: Details of original lease, reason for assignment, and current status
3. Definitions: Key terms used throughout the document
4. Assignment: Core terms of the assignment including property details and effective date
5. Consideration: Details of payment or other consideration for the assignment
6. Assignor's Covenants: Warranties and obligations of the current lessor
7. Execution: Signing requirements and witness details
1. Mortgagee Consent: Required if property is mortgaged - include when there is an existing mortgage on the property
2. Property Management Terms: Special conditions for property management - include for complex commercial properties
3. Service Charge Provisions: Details of service charge arrangements - include for properties with service charge components
1. Schedule 1 - Property Details: Detailed description of the property including lot number, floor area, etc.
2. Schedule 2 - Original Lease: Copy or details of the original lease agreement
3. Schedule 3 - Existing Tenancies: List and details of current tenancies affecting the property
4. Appendix A - Plans: Property plans and drawings where relevant
5. Appendix B - Consents: Copies of relevant consents (mortgagee, authority, etc.)
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