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Lease Assignment Agreement Template for Malaysia

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Key Requirements PROMPT example:

Lease Assignment Agreement

"I need a Lease Assignment Agreement for transferring my retail shop lease in Kuala Lumpur to a new tenant from March 2025, including provisions for existing shop fittings and transfer of service contracts for security and maintenance."

Document background
The Lease Assignment Agreement is a critical document used in Malaysian property transactions when a tenant wishes to transfer their leasehold rights to another party before the original lease expires. This agreement is essential for businesses and individuals looking to either exit or take over existing lease arrangements in Malaysia. The document must comply with the National Land Code 1965 and other relevant Malaysian legislation, requiring careful consideration of local property laws and registration requirements. It includes detailed provisions covering the assignment terms, property details, financial obligations, and necessary consents. The agreement is particularly important in commercial settings where businesses need to maintain continuity of operations while changing tenancy arrangements, and it requires proper execution to ensure enforceability under Malaysian law.
Suggested Sections

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

2. Background: Recitals explaining the existing lease arrangement, reason for assignment, and confirmation of landlord's consent

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

4. Assignment: Core clause transferring all rights, title and interest in the lease from Assignor to Assignee

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

6. Conditions Precedent: Prerequisites that must be fulfilled before the assignment becomes effective

7. Assignor's Warranties: Warranties regarding the lease status, no breaches, payment status, etc.

8. Assignee's Covenants: Assignee's promises to comply with lease terms and perform tenant obligations

9. Landlord's Consent: Terms of the landlord's consent and any conditions attached

10. Handover: Arrangements for physical handover of the property and any fixtures/fittings

11. Costs and Stamp Duty: Responsibility for legal costs, stamp duty, and registration fees

12. Governing Law: Confirms Malaysian law governs the agreement

13. Execution: Formal signing section meeting Malaysian legal requirements

Optional Sections

1. Security Deposit Transfer: Required if there's an existing security deposit to be transferred or adjusted

2. Outstanding Payments: Include if there are any pending rent, utility, or other payments to be addressed

3. Renovation Works: Include if there are ongoing or planned renovation works that need to be addressed

4. Break Clause: Optional section allowing early termination rights for the Assignee

5. Service Contracts: Include if there are any service contracts to be transferred or terminated

6. Guarantor Provisions: Required if the original lease had guarantors or new guarantors are being added

7. Indemnification: Optional broader indemnification provisions beyond standard warranties

Suggested Schedules

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

2. Schedule 2 - Original Lease: Copy or key terms of the original lease being assigned

3. Schedule 3 - Inventory: List of fixtures, fittings, and equipment included in the assignment

4. Schedule 4 - Outstanding Matters: List of any pending issues, payments, or obligations

5. Schedule 5 - Condition Report: Current condition of the property at time of assignment

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

7. Appendix B - Registration Requirements: Checklist of registration requirements and forms

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

Real Estate

Retail

Commercial Property

Industrial

Hospitality

Food & Beverage

Healthcare

Education

Manufacturing

Warehousing & Logistics

Professional Services

Banking & Finance

Relevant Teams

Legal

Real Estate

Operations

Finance

Compliance

Facilities Management

Administration

Business Development

Risk Management

Property Management

Relevant Roles

Legal Counsel

Property Manager

Real Estate Director

Facilities Manager

Commercial Director

Operations Manager

Chief Financial Officer

Compliance Officer

Real Estate Agent

Leasing Manager

Asset Manager

Property Administrator

Business Development Manager

Contract Manager

Corporate Secretary

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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