The Assignment Of Lease By Landlord is a crucial document used in Singapore real estate transactions when a landlord wishes to transfer their interest in a lease to another party. This document is particularly relevant when properties are sold with sitting tenants or when restructuring property portfolios. It ensures compliance with Singapore's stringent property laws while protecting all parties' interests. The assignment typically includes details of the original lease, property specifications, rental terms, and any existing tenant obligations that will be transferred to the new landlord.
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1. Parties: Details of the current landlord (assignor) and the new landlord (assignee)
2. Background: Information about the existing lease and reasons for assignment
3. Definitions: Key terms used throughout the agreement
4. Assignment: Core terms of the assignment including property details and consideration
5. Representations and Warranties: Assignor's confirmations regarding the lease and property
6. Completion: Details of completion date and procedures
1. Tenant's Consent: Required if the original lease requires tenant's consent for assignment
2. Mortgagee's Consent: Required if property is mortgaged
3. Tax Provisions: Special tax arrangements between parties when specific tax considerations apply
1. Schedule 1 - Property Details: Detailed description of the property including address and boundaries
2. Schedule 2 - Original Lease: Copy of the existing lease agreement
3. Schedule 3 - Outstanding Rent: Statement of any rent arrears or prepayments
4. Appendix A - Property Plans: Floor plans and property drawings if applicable
5. Appendix B - Relevant Consents: Copies of third-party consents where required
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