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Assignment Of Lease Landlord To Landlord

Assignment Of Lease Landlord To Landlord Template for United Arab Emirates

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Key Requirements PROMPT example:

Assignment Of Lease Landlord To Landlord

"I need an Assignment Of Lease Landlord To Landlord agreement for transferring my Dubai residential apartment lease to a new landlord company as part of a larger portfolio sale, with completion planned for March 2025, ensuring compliance with RERA regulations and including provisions for transferring the existing tenant's security deposit."

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Document background
The Assignment Of Lease Landlord To Landlord is a crucial document used in UAE real estate transactions when the ownership of a leased property changes hands while maintaining an existing tenant's lease agreement. This document is essential in situations such as property sales, corporate restructuring, or portfolio transfers where the original landlord wishes to transfer their rights and obligations to a new landlord. It must comply with UAE Federal Law and specific emirate regulations, particularly regarding property transactions and tenant rights. The document includes provisions for the transfer of security deposits, outstanding rent, and ongoing obligations, while ensuring proper registration with relevant land departments. It's commonly used in both commercial and residential property transactions throughout the UAE, requiring careful attention to local property laws and registration requirements.
Suggested Sections

1. Parties: Details of the current landlord (Assignor), new landlord (Assignee), and identification of the current tenant

2. Background: Details of the existing lease, property description, and context for the assignment

3. Definitions: Definitions of key terms used in the agreement including 'Lease', 'Property', 'Assignment Date', 'Rent'

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

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

6. Warranties and Representations: Assignor's warranties regarding the lease, property, and tenant status

7. Completion Requirements: Steps required to complete the assignment including registration requirements

8. Handover Provisions: Transfer of deposits, documents, and ongoing obligations

9. Governing Law and Jurisdiction: Specification of UAE law and relevant emirate jurisdiction

Optional Sections

1. Tenant Acknowledgment: Section for tenant's acknowledgment of the assignment - required if tenant signature is being obtained

2. Property Manager Provisions: Required if there are existing property management arrangements to be transferred

3. VAT Provisions: Required for commercial properties subject to VAT

4. Service Charge Provisions: Required for properties in managed developments with service charge obligations

5. Existing Disputes: Required if there are ongoing disputes or proceedings relating to the lease

Suggested Schedules

1. Schedule 1 - The Property: Detailed description of the property including title deed details

2. Schedule 2 - The Lease: Copy or details of the existing lease being assigned

3. Schedule 3 - Outstanding Rent: Statement of rent paid and any arrears

4. Schedule 4 - Security Deposits: Details of deposits held and transfer arrangements

5. Appendix A - Required Notices: Forms of notices to be sent to tenant and relevant authorities

6. Appendix B - Registration Requirements: Checklist of registration requirements for relevant emirate

Authors

Alex Denne

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Real Estate

Commercial Property

Residential Property

Retail

Hospitality

Industrial

Office Space

Mixed-Use Development

Shopping Centers

Warehousing

Relevant Teams

Legal

Real Estate

Property Management

Asset Management

Operations

Compliance

Finance

Administrative

Investment

Risk Management

Relevant Roles

Property Manager

Real Estate Director

Legal Counsel

Asset Manager

Portfolio Manager

Facilities Manager

Real Estate Investment Manager

Property Operations Manager

Leasing Manager

Compliance Officer

Real Estate Transaction Manager

Property Administrator

Industries
UAE Civil Code (Federal Law No. 5 of 1985): Provides the fundamental legal framework for contracts, property rights, and obligations in the UAE, including provisions for assignment of rights and property transactions
Dubai Law No. 26 of 2007 (if property in Dubai): Regulates the relationship between landlords and tenants in Dubai, including provisions for lease registration and transfer of ownership
Abu Dhabi Law No. 20 of 2006 (if property in Abu Dhabi): Governs the leasing of residential, commercial, and professional premises in Abu Dhabi, including regulations for lease assignments
Real Estate Registration Law: Requires registration of property transactions and lease assignments with the relevant emirate's land department
UAE Commercial Transactions Law (Federal Law No. 18 of 1993): Relevant if the property is used for commercial purposes, governing commercial lease relationships and transfers
RERA Regulations (Dubai): Real Estate Regulatory Agency regulations governing property transactions and lease registrations in Dubai
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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