Document background
A Partial Assignment of Lease is utilized when a tenant wishes to transfer only a portion of their leased premises to another party while maintaining their rights over the remaining space. This document type is particularly relevant in Indonesia's growing commercial real estate market, where businesses often need flexibility in managing their leased spaces. The agreement must conform to Indonesian legal requirements, including the Civil Code and property regulations, and typically requires formal registration with relevant authorities. The document outlines crucial details such as the precise division of space, allocation of rent and service charges, shared facility arrangements, and respective obligations of all parties. This type of assignment is commonly used in commercial property restructuring, business expansion or downsizing, or when companies wish to optimize their real estate utilization while maintaining some presence in the original location.
