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Assign Tenancy Agreement
"I need an Assignment of Tenancy Agreement for my retail shop in Kuala Lumpur, where I'm transferring my existing 5-year lease to a new tenant from March 1, 2025, with the landlord requiring additional security deposit and maintaining the original rental terms."
1. Parties: Identifies the Assignor (current tenant), Assignee (new tenant), and Landlord
2. Background: Recitals explaining the existing tenancy agreement and the intention to assign
3. Definitions: Defines key terms used throughout the agreement
4. Assignment: Core clause transferring the tenancy rights from Assignor to Assignee
5. Consideration: Details of any payment made for the assignment
6. Assignor's Covenants: Warranties and obligations of the current tenant
7. Assignee's Covenants: New tenant's commitments to comply with original tenancy terms
8. Landlord's Consent: Confirmation of landlord's approval of the assignment
9. Completion: Details of when and how the assignment will take effect
10. Governing Law: Specifies Malaysian law as governing the agreement
1. Security Deposit Transfer: Used when the existing security deposit is being transferred between parties
2. Outstanding Obligations: Include when there are existing obligations or liabilities to be addressed
3. Utilities and Services: Add when specific arrangements for transfer of utilities accounts are needed
4. Break Clause: Include if parties want to allow early termination options
5. Condition of Premises: Used when specific acknowledgments about property condition are required
1. Schedule 1 - Property Details: Detailed description of the property being subject to the assignment
2. Schedule 2 - Original Tenancy Agreement: Copy or key terms of the existing tenancy agreement being assigned
3. Schedule 3 - Inventory: List of fixtures, fittings, and contents included in the tenancy
4. Schedule 4 - Outstanding Payments: Details of any rent, deposits, or other payments to be settled
5. Schedule 5 - Condition Report: Current condition of the property at time of assignment
Authors
Real Estate
Commercial Property
Residential Property
Retail
Office Space
Industrial
Hospitality
Education
Healthcare
Legal
Real Estate
Property Management
Facilities Management
Compliance
Operations
Administrative Services
Contract Management
Property Manager
Real Estate Agent
Legal Counsel
Tenant Relations Manager
Facilities Manager
Leasing Manager
Compliance Officer
Contract Administrator
Real Estate Director
Property Administrator
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