Document background
The Assignment Of Lease Deed is a fundamental document in Hong Kong's property market, used when an existing tenant wishes to transfer their leasehold interest to another party before the lease expires. This document is essential in both commercial and residential contexts, particularly in Hong Kong's dynamic property market where lease assignments are common practice. The deed must comply with Hong Kong's property laws, including the Conveyancing and Property Ordinance and Land Registration Ordinance, and requires careful consideration of stamp duty obligations. It typically includes detailed information about the property, parties involved, consideration paid, and various warranties and covenants. The document is particularly important in Hong Kong's leasehold system, where most properties are held under long-term government leases, and subsequent transactions often involve assignments of existing leases rather than new grants.
