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Deed Of Assignment Of Rental Income
"I need a Deed of Assignment of Rental Income to assign the rental income from my commercial property at 123 Orchard Road to DBS Bank as security for a business loan, with the assignment to take effect from March 1, 2025."
1. Parties: Details of the assignor and assignee
2. Background: Context of the assignment, including details of the property and existing rental arrangement
3. Definitions: Key terms used tHRoughout the deed
4. Assignment: Core clause assigning the rental income
5. Consideration: Details of payment or other consideration for the assignment
6. Representations and Warranties: Assignor's confirmations regarding ownership and right to assign
7. Execution: Formal execution blocks with witness requirements
1. Security Provisions: Additional provisions when the assignment is being made as part of a security arrangement
2. Power of Attorney: Optional clause granting the assignee power to deal directly with rental matters
3. Tax Provisions: Specific arrangements regarding tax liability and responsibilities between parties
1. Schedule 1 - Property Details: Full legal description of the property including title details
2. Schedule 2 - Tenancy Agreement: Copy or key details of the relevant tenancy agreement
3. Schedule 3 - Notice of Assignment: Form of notice to be given to tenant regarding the assignment
4. Schedule 4 - Payment Details: Bank account and payment arrangement details for rental payments
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