tiktok³ÉÈ˰æ

Assumption Agreement Template for India

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Assumption Agreement

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Assumption Agreement

"I need an Assumption Agreement for taking over a commercial property lease in Mumbai from ABC Technologies, where my company XYZ Solutions will assume all tenant obligations starting March 1, 2025, with the landlord's consent already secured."

Document background
The Assumption Agreement is a vital legal instrument used in Indian business and commercial transactions when one party needs to step into the shoes of another party in an existing contractual relationship. This document becomes necessary during corporate restructuring, merger and acquisition activities, project transfers, or debt assignments. The agreement must comply with Indian contract law principles, particularly the Indian Contract Act, 1872, and may require consideration of specific sector regulations depending on the nature of the original agreement. The document typically includes detailed provisions about the rights and obligations being transferred, conditions precedent, representations and warranties, and necessary consents. An Assumption Agreement is particularly important in ensuring smooth transition of contractual relationships while maintaining legal certainty and protecting the interests of all parties involved.
Suggested Sections

1. Parties: Identifies all parties to the agreement: the Original Party (Assignor), the Assuming Party (Assignee), and the Remaining Party (Original Counterparty)

2. Background: Recitals explaining the original agreement's context and the intention to transfer rights and obligations

3. Definitions: Defines key terms used throughout the agreement, including 'Original Agreement', 'Assumed Obligations', 'Effective Date', etc.

4. Assumption of Rights and Obligations: Core provision detailing which rights and obligations are being assumed by the Assuming Party

5. Effective Date: Specifies when the assumption becomes effective

6. Representations and Warranties: Standard representations from all parties regarding their capacity and authority to enter into the agreement

7. Original Party's Continuing Obligations: Specifies any residual obligations of the Original Party

8. Remaining Party's Consent: Explicit consent from the Original Counterparty to the assumption

9. Governing Law and Jurisdiction: Specifies Indian law as governing law and determines jurisdiction for disputes

10. Notices: Contact details and methods for formal communications between parties

11. Execution: Signature blocks for all parties

Optional Sections

1. Security and Guarantees: Required when the assumption involves transfer of security interests or guarantees

2. Regulatory Compliance: Needed when the assumption requires regulatory approvals or compliance with specific regulations

3. Tax Provisions: Include when there are specific tax implications that need to be addressed

4. Indemnification: Optional protection against claims arising from pre-assumption period

5. Assignment: Include if further assignment rights need to be restricted or permitted

6. Costs and Expenses: Include when there's a need to specify how transaction costs are allocated

7. Confidentiality: Required when sensitive information is involved in the assumption

Suggested Schedules

1. Schedule 1 - Original Agreement: Copy or summary of the agreement being assumed

2. Schedule 2 - Assumed Rights and Obligations: Detailed list of specific rights and obligations being transferred

3. Schedule 3 - Existing Security Interests: List of any security interests or guarantees being transferred

4. Schedule 4 - Required Consents: List of third-party or regulatory consents required

5. Schedule 5 - Transfer Documents: Forms of any additional transfer documentation required

6. Appendix A - Notice of Assumption: Form of notice to be sent to relevant parties regarding the assumption

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
Clauses






























Relevant Industries

Banking and Financial Services

Real Estate

Infrastructure

Manufacturing

Information Technology

Telecommunications

Energy

Construction

Healthcare

Professional Services

Relevant Teams

Legal

Finance

Corporate Secretarial

Risk Management

Compliance

Business Development

Operations

Project Management

Commercial

Mergers & Acquisitions

Relevant Roles

Legal Counsel

Corporate Lawyer

Contract Manager

Business Development Manager

Chief Financial Officer

Project Manager

Risk Manager

Compliance Officer

Corporate Secretary

Finance Director

Operations Manager

Transaction Advisory Manager

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Assignment Contract For Wholesaling (Real Estate)

An Indian law-compliant contract for assigning property purchase rights from an original buyer to a wholesale buyer, including terms for transfer, payment, and closing requirements.

find out more

Assignment Agreement For Flat

An Indian legal document for transferring ownership rights of a residential flat from one party to another, compliant with Indian property laws and registration requirements.

find out more

Debt Assumption Agreement

An Indian law-governed agreement transferring debt obligations from an original debtor to a new debtor with creditor consent.

find out more

Assignment Of Lease By Tenant

An Indian law-compliant document that transfers lease rights from an existing tenant to a new tenant, with landlord's consent.

find out more

Assignment And Assumption Of Contract

An Indian law-governed agreement that transfers contractual rights and obligations from one party to another, ensuring legal compliance and documenting all parties' consent.

find out more

Assignment Of Lease By Lessor

An Indian law-governed document transferring a lessor's rights and obligations under an existing lease to a new lessor, requiring registration and stamp duty compliance.

find out more

Assignment Of Contract Of Sale

An Indian law-compliant agreement transferring rights and obligations under an existing Contract of Sale from an Assignor to an Assignee.

find out more

Assignment Of Equipment Lease

A legal document governed by Indian law that transfers equipment lease rights and obligations from an existing lessee to a new lessee, with the lessor's consent.

find out more

Assign Tenancy Agreement

A legal document under Indian law that transfers tenancy rights from an existing tenant to a new tenant with landlord's consent.

find out more

Assignment Of Purchase Order

An Indian law-governed agreement that transfers rights and obligations under an existing purchase order from one party to another, detailing terms, consideration, and obligations.

find out more

Assignment Of Option Agreement

An Indian law-governed agreement transferring rights under an existing option agreement from the current holder to a new party, including terms, conditions, and regulatory compliance requirements.

find out more

Assignment Of Patent Rights Agreement

An Indian law-governed agreement transferring all rights, title, and interest in patent(s) from assignor to assignee, compliant with Indian Patents Act requirements.

find out more

Assignment Of Lease From Seller To Buyer

A legal document under Indian law that transfers leasehold rights from an existing tenant to a new tenant, requiring proper registration and stamp duty compliance.

find out more

Assignment Of Receivables Agreement

An Indian law-governed agreement enabling the transfer of receivables from an Assignor to an Assignee, structured under the Transfer of Property Act and related legislation.

find out more

Assignment Employment Contract

An Indian law-governed contract establishing terms for employment where an employee is assigned to work at a client organization, covering employment conditions, assignment details, and party obligations.

find out more

Assignment Of Payment Agreement

An Indian law-governed agreement that transfers payment rights from an assignor to an assignee, structured under the Indian Contract Act and Transfer of Property Act.

find out more

Assignment Fee Contract

An Indian law-governed contract documenting the transfer of rights or obligations from an Assignor to an Assignee for a specified fee.

find out more

Assignment Of Employment Agreement

An Indian law-compliant agreement for transferring employment rights and obligations from one employer to another, maintaining employment continuity and legal compliance.

find out more

Assignment Of Inventions Agreement

An Indian law-governed agreement transferring ownership rights of inventions from inventors to their employers or contracting entities, ensuring compliance with Indian patent and IP laws.

find out more

Assignment Of Claim Agreement

An Indian law-governed agreement that transfers rights and interests in a claim from an assignor to an assignee, subject to the Transfer of Property Act and Contract Act.

find out more

Assignment Of Proceeds Agreement

An Indian law-governed agreement that transfers rights to receive payment proceeds from one party to another, commonly used in financial and commercial transactions.

find out more

Accounts Receivable Assignment Agreement

An Indian law-governed agreement for the transfer of accounts receivable from an assignor to an assignee, structured under the Transfer of Property Act and Contract Act.

find out more

Assumption Agreement

An Indian law-governed agreement that enables the transfer of contractual rights and obligations from one party to another, ensuring legal continuity of existing contractual relationships.

find out more

Purchase And Assignment Agreement

An Indian law-governed agreement facilitating the purchase and transfer of ownership rights and interests between parties, detailing terms of sale and assignment.

find out more

Property Assignment Agreement

An Indian legal document for transferring property ownership rights between parties, governed by the Transfer of Property Act and state-specific regulations.

find out more

Novation And Assignment Agreement

An Indian law-governed tripartite agreement that transfers contractual rights and obligations from one party to another, with mutual consent of all parties involved.

find out more

Membership Interest Transfer Agreement

An Indian law-governed agreement facilitating the transfer of membership interests between parties in a company or LLP, detailing terms, conditions, and regulatory compliance requirements.

find out more

Loan Assignment And Assumption Agreement

An Indian law-governed agreement that transfers loan rights and obligations from one lender to another, with borrower acknowledgment and full regulatory compliance.

find out more

Lease Assumption Agreement

An Indian law-governed agreement transferring lease rights and obligations from an existing tenant to a new tenant, with landlord's consent.

find out more

Lease Assignment And Assumption Agreement

An Indian law-compliant agreement transferring lease rights and obligations from an existing tenant to a new tenant, with landlord's consent.

find out more

Employee Proprietary Information And Inventions Agreement

An Indian law-governed agreement establishing employee obligations regarding company confidential information, intellectual property, and inventions.

find out more

Employee Invention Assignment And Confidentiality Agreement

An Indian law-governed agreement that assigns employee inventions to the employer and protects company confidential information and intellectual property.

find out more

Employee Assignment Agreement

An Indian law-governed agreement establishing employee's assignment of intellectual property rights and work product to their employer.

find out more

Debt Assignment And Assumption Agreement

An Indian law-governed agreement facilitating the transfer of debt obligations from one creditor to another, with debtor's acknowledgment.

find out more

Contract Assignment Agreement

An Indian law-governed agreement that transfers contractual rights and obligations from one party to another, ensuring legal compliance and protecting all parties' interests.

find out more

Confirmatory Assignment Agreement

An Indian law-governed agreement that formally confirms and documents a previous transfer of rights between parties, ensuring legal certainty and enforceability.

find out more

Commercial Lease Assignment Agreement

An Indian law agreement transferring commercial lease rights from an existing tenant to a new tenant, with landlord's consent and compliance with the Transfer of Property Act.

find out more

Collateral Assignment Of Purchase Agreement

An Indian law-governed security document assigning rights under a purchase agreement as collateral for secured obligations.

find out more

Bill Of Sale And Assignment And Assumption Agreement

An Indian law-governed agreement that facilitates the transfer of assets and associated rights while documenting the assumption of related liabilities between parties.

find out more

Assignment Of Subcontract Agreement

An Indian law-governed agreement that transfers rights and obligations under an existing subcontract from one party to another, ensuring legal compliance and operational continuity.

find out more

Assignment Of Service Contract

An Indian law-governed document that transfers rights and obligations under a service contract from one provider to another, ensuring legal compliance and service continuity.

find out more

Transfer Of Lease Agreement To New Landlord

An Indian law-compliant agreement transferring landlord rights and obligations under an existing lease from the current landlord to a new landlord, while maintaining tenant terms.

find out more

Transfer Of IP Rights Agreement

An Indian law-governed agreement facilitating the complete transfer of intellectual property rights between parties, including terms, warranties, and post-transfer obligations.

find out more

Software Assignment Agreement

An Indian law-governed agreement for transferring complete ownership rights of software from the creator/owner to another party, including all associated intellectual property and materials.

find out more

Security Assignment Agreement

An Indian law agreement creating security interest through assignment of rights over specified assets from assignor to assignee.

find out more

Royalty Assignment Agreement

An Indian law-governed agreement for transferring royalty rights, including payment terms and obligations between Assignor and Assignee.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: /our-research
Oops! Something went wrong while submitting the form.

³Ò±ð²Ô¾±±ð’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ³Ò±ð²Ô¾±±ð’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our for more details and real-time security updates.