The Assignment Of Lease From Seller To Buyer is a crucial document in Singapore's property market, used when a lessee wishes to transfer their leasehold interest to another party before the lease expires. This document is essential for commercial and residential property transactions in Singapore, requiring compliance with local property laws and often needing landlord consent. It must detail the original lease terms, assignment conditions, consideration, and both parties' obligations. The document typically requires registration with relevant authorities and may be subject to stamp duty under Singapore law.
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1. Parties: Details of the Assignor (current lessee), Assignee (new lessee), and Landlord
2. Background: Information about the original lease and circumstances leading to assignment
3. Definitions: Key terms used throughout the document
4. Assignment: Core provisions detailing the transfer of lease rights and obligations
5. Consideration: Details of payment for the assignment
6. Assignor's Covenants: Warranties and obligations of the current lessee
7. Assignee's Covenants: Obligations and undertakings of the new lessee
8. Completion: Details of completion date and process
9. Execution: Signature blocks and attestation
1. Landlord's Consent: Required if the original lease requires landlord's consent for assignment
2. Security Deposit: Provisions regarding transfer or replacement of security deposit
3. Existing Tenancies: Provisions dealing with any sub-tenancies
4. Condition of Property: Specific provisions about property condition
1. Schedule 1 - Property Details: Detailed description of the property including address and lot number
2. Schedule 2 - Original Lease: Copy or details of the original lease being assigned
3. Schedule 3 - Landlord's Consent: Copy of landlord's written consent (if applicable)
4. Schedule 4 - Existing Tenancies: Details of any existing sub-tenancies (if applicable)
5. Appendix A - Property Plans: Floor plans or property plans (if relevant)
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