The Lease and Sublease Agreement is a crucial legal instrument in Singapore's property market, designed to facilitate both direct leasing and subletting arrangements. This document is essential when a tenant wishes to both lease a property and retain the right to sublease it to third parties. The agreement must comply with Singapore's stringent property laws and regulations, including the Civil Law Act, Land Titles Act, and relevant URA guidelines. It typically includes detailed provisions on rent, security deposits, maintenance obligations, permitted use, and subletting conditions, while incorporating specific requirements for Singapore property transactions such as stamp duty obligations and registration requirements for longer-term leases.
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1. Parties: Details of lessor, lessee, and any sublessee
2. Background: Context of the lease arrangement and property details
3. Definitions: Key terms used tHRoughout the agreement
4. Demise: Description of the property being leased
5. Term: Duration of lease and any renewal options
6. Rent and Payment Terms: Rental amount, payment schedule, and method
7. Security Deposit: Amount and terms of security deposit
8. Use of Premises: Permitted use and restrictions
9. Maintenance and Repairs: Responsibilities for property maintenance
10. Insurance: Required insurance coverage
11. Termination: Conditions for early termination
1. Option to Purchase: Terms for potential property purchase when parties agree to potential future sale
2. Subletting Provisions: Terms for subletting the property when subletting is permitted
3. Fit-out Works: Terms for renovation or modification when premises require modification
4. Break Clause: Early termination options when early termination might be needed
1. Property Floor Plan: Detailed plan of the leased premises
2. Inventory List: List of fixtures and fittings included
3. House Rules: Building regulations and guidelines
4. Fit-out Guidelines: Renovation and modification specifications
5. Service Charge Schedule: Breakdown of additional charges
6. Maintenance Schedule: Regular maintenance requirements and schedule
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