Document background
The Assignment Of Sublease is a crucial document in Malaysian property transactions where a subtenant wishes to transfer their leasehold interest to another party. This document is commonly used in commercial settings when businesses need to exit a lease early or transfer their premises to another operator. It must comply with the National Land Code 1965 and relevant state land rules, requiring proper registration with the land office and payment of stamp duty. The assignment document typically includes detailed information about the property, existing sublease terms, parties' obligations, and necessary consents from the head lessor and/or sublessor. It's particularly important in Malaysia's dynamic commercial property market, where strict compliance with local property laws and registration requirements is essential for the valid transfer of leasehold interests.
