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Assignment Of Lease Deed

Assignment Of Lease Deed Template for Malaysia

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Key Requirements PROMPT example:

Assignment Of Lease Deed

"I need an Assignment of Lease Deed for transferring my retail shop lease at Lot 123, Jalan Sultan, Kuala Lumpur to a new tenant from March 1, 2025, with the landlord's consent already obtained and a security deposit transfer of RM50,000."

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Document background
The Assignment Of Lease Deed is a crucial legal instrument in Malaysian property law, used when an existing tenant wishes to transfer their leasehold interest to another party. This document is essential in situations where a tenant needs to exit a lease early or transfer their business premises to another entity. The deed must comply with the National Land Code 1965 and requires formal registration with the relevant Land Office in Malaysia. It typically includes detailed information about the property, parties involved, financial terms, and specific conditions of the assignment. The document must be properly executed with witnesses and may require additional formalities such as stamp duty payment and landlord's written consent. This type of assignment is common in commercial property transactions and must address both the transfer of rights and the assumption of obligations under the original lease.
Suggested Sections

1. Parties: Identifies the Assignor (current lessee), Assignee (new lessee), and Landlord

2. Background: Recitals explaining the existing lease arrangement and the intention to assign

3. Definitions: Defines key terms used throughout the deed including Property, Lease, Assignment Date, etc.

4. Agreement to Assign: Core clause establishing the assignment of the lease from Assignor to Assignee

5. Consideration: Details of the payment or consideration for the assignment

6. Effective Date: Specifies when the assignment takes effect

7. Assignor's Covenants: Warranties and representations by the Assignor regarding the lease

8. Assignee's Covenants: Undertakings by the Assignee to comply with lease terms and indemnify the Assignor

9. Landlord's Consent: Acknowledgment and consent of the Landlord to the assignment

10. Registration: Requirements for registering the assignment with relevant authorities

11. Costs: Allocation of legal costs, stamp duty, and registration fees

12. Governing Law: Specifies Malaysian law as governing law and jurisdiction

13. Execution: Signature blocks and attestation requirements

Optional Sections

1. Guarantor Provisions: Required when there is a guarantor for the Assignee's obligations

2. Condition of Property: Include when specific property conditions need to be acknowledged

3. Outstanding Repairs: Include when there are pending repair obligations to be transferred

4. Existing Breaches: Required when there are any existing breaches or disputes to be addressed

5. Service Contracts: Include when there are service contracts being transferred with the lease

6. Security Deposit Transfer: Required when dealing with transfer of existing security deposits

7. Break Clause: Include when special termination rights are being transferred

Suggested Schedules

1. Schedule 1 - Property Details: Detailed description of the leased property including address and land title details

2. Schedule 2 - Existing Lease: Copy or details of the original lease being assigned

3. Schedule 3 - Rent and Payment Details: Breakdown of rent, payment terms, and other financial obligations

4. Schedule 4 - Inventory: List of any fixtures, fittings, or equipment included in the assignment

5. Schedule 5 - Outstanding Matters: List of any pending obligations, repairs, or issues to be resolved

6. Appendix A - Landlord's Consent Letter: Formal written consent from the Landlord

7. Appendix B - Property Plans: Relevant floor plans or property drawings if applicable

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions






























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Relevant Industries

Real Estate

Commercial Property

Retail

Industrial

Manufacturing

Hospitality

Office Space Management

Warehousing and Logistics

Healthcare Facilities

Educational Institutions

Relevant Teams

Legal

Real Estate

Facilities Management

Finance

Operations

Compliance

Corporate Secretarial

Property Management

Asset Management

Business Development

Relevant Roles

Property Manager

Real Estate Director

Legal Counsel

Corporate Lawyer

Facilities Manager

Operations Director

Chief Financial Officer

Asset Manager

Lease Administrator

Commercial Property Agent

Real Estate Transaction Manager

Compliance Officer

Company Secretary

Business Development 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

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