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Assignment Of Lease From Seller To Buyer
"I need an Assignment of Lease from Seller to Buyer for my retail space in Causeway Bay, Hong Kong, with the assignment to be completed by March 15, 2025, and including provisions for the transfer of existing shop fittings and security deposits."
1. Parties: Identifies the Assignor (current tenant/seller), Assignee (buyer), and Landlord
2. Background: Recites details of the original lease, confirms landlord's consent, and states intention to assign
3. Definitions: Defines key terms used throughout the document including 'Lease', 'Property', 'Assignment Date', etc.
4. Agreement to Assign: Core clause where Assignor agrees to assign and Assignee agrees to accept assignment of the lease
5. Consideration: States the purchase price and payment terms for the assignment
6. Completion: Specifies the completion date, time, and place, and completion requirements
7. Assignor's Covenants: Warranties and representations by the Assignor regarding the lease and property
8. Assignee's Covenants: Assignee's obligations including compliance with lease terms and indemnities
9. Landlord's Consent: Acknowledgment and incorporation of landlord's consent conditions
10. Stamp Duty: Specifies responsibility for payment of stamp duty
11. Costs: Allocation of legal and other costs related to the assignment
12. Governing Law: Confirms Hong Kong law governs the agreement
13. Execution: Formal execution block for all parties to sign
1. Existing Deposits: Required when there are existing security deposits to be transferred or dealt with
2. Outstanding Rent: Include when there are provisions for apportioning rent, management fees, or utilities
3. Conditions Precedent: Used when completion is subject to specific conditions being satisfied
4. Property Contents: Required when furniture or fittings are included in the assignment
5. Break Clause: Include if there's an existing break clause that needs to be addressed
6. Guarantor: Required when there is a guarantor for the Assignee's obligations
7. Real Estate Agent: Include when there are provisions regarding agent's commission
1. Schedule 1 - The Property: Detailed description of the property including address and registration particulars
2. Schedule 2 - The Lease: Full details of the existing lease including date, parties, and term
3. Schedule 3 - Landlord's Consent Conditions: Lists all conditions imposed by landlord for consenting to the assignment
4. Schedule 4 - Property Contents: Inventory of any furniture or fittings included in the assignment
5. Appendix A - Copy of Original Lease: Attached copy of the original lease document
6. Appendix B - Landlord's Consent Letter: Attached copy of the landlord's written consent
7. Appendix C - Floor Plan: Plan showing the layout of the property
Authors
Assignment
Assignment Date
Assignor
Assignee
Bank Account
Building
Completion
Completion Date
Consideration
Deposits
Encumbrances
Estate
Government Lease
Government Rent
Landlord
Landlord's Consent
Lease
Management Fees
Original Tenant
Outgoings
Parties
Property
Rates
Rent
Security Deposit
Stamp Duty
Term
Title Documents
Transaction Documents
Working Day
Assignment
Consideration
Completion
Conditions Precedent
Representations and Warranties
Covenants
Property Transfer
Lease Obligations
Landlord Consent
Security Deposits
Rent and Outgoings
Insurance
Registration and Stamp Duty
Costs and Expenses
Notices
Further Assurance
Entire Agreement
Severability
Governing Law
Jurisdiction
Assignment Restrictions
Indemnification
Default
Force Majeure
Third Party Rights
Waiver
Amendment
Execution
Real Estate
Commercial Property
Retail
Hospitality
Office Space
Industrial Property
Residential Property
Banking and Finance
Legal Services
Property Management
Legal
Real Estate
Operations
Finance
Compliance
Property Management
Facilities
Business Development
Asset Management
Risk Management
Legal Counsel
Property Manager
Real Estate Manager
Facility Manager
Lease Administrator
Commercial Director
Operations Manager
Chief Financial Officer
Business Development Manager
Asset Manager
Property Lawyer
Compliance Officer
Real Estate Agent
Property Consultant
Transaction Manager
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