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Deed Of Assignment Of Tenancy

Deed Of Assignment Of Tenancy Template for Malaysia

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Key Requirements PROMPT example:

Deed Of Assignment Of Tenancy

"I need a Deed of Assignment of Tenancy for transferring my commercial office lease in Kuala Lumpur to a new tenant effective March 1, 2025, with the landlord's consent already obtained and a security deposit transfer of RM50,000."

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Document background
The Deed of Assignment of Tenancy is a crucial legal instrument in Malaysian property law used when an existing tenant wishes to transfer their tenancy rights to another party. This document is essential in situations where the original tenant needs to exit the lease early but has found a replacement tenant to take over their obligations. It ensures compliance with Malaysian legal requirements while protecting the interests of all parties involved - the original tenant (Assignor), the new tenant (Assignee), and the landlord. The deed typically includes detailed information about the property, the original lease terms, the consideration for the assignment, and specific conditions set by the landlord. It must be properly executed and stamped in accordance with Malaysian law to be legally enforceable. This document is particularly important in commercial and residential property sectors, where formal documentation of tenancy transfers is required to maintain clear legal rights and obligations.
Suggested Sections

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

2. Background: Recitals explaining the existing tenancy agreement, reason for assignment, and landlord's consent

3. Definitions: Definitions of key terms used throughout the deed

4. Assignment: Core provision assigning all rights, title and interest in the tenancy from Assignor to Assignee

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

6. Landlord's Consent: Formal documentation of the landlord's consent to the assignment

7. Assignor's Covenants: Warranties and representations from the Assignor regarding the tenancy

8. Assignee's Covenants: New tenant's undertaking to comply with original lease terms and obligations

9. Completion: Details of the completion process and effective date of assignment

10. Governing Law: Specification that Malaysian law governs the deed

Optional Sections

1. Guarantor Provisions: Required when there is a guarantor for the new tenant's obligations

2. Security Deposit Transfer: Used when there is an existing security deposit to be transferred or dealt with

3. Outstanding Obligations: Needed when there are specific outstanding obligations or payments to be addressed

4. Property Use Restrictions: Include when there are specific restrictions on property use that need to be highlighted

5. Break Clause: Optional provision allowing early termination under specific circumstances

Suggested Schedules

1. Schedule 1 - Property Details: Detailed description of the property including address and any parking spaces or facilities

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

3. Schedule 3 - Rent and Payment Details: Specification of rent amount, payment terms, and review dates

4. Schedule 4 - Inventory: List of any fixtures, fittings or furniture included in the tenancy

5. Schedule 5 - Special Conditions: Any specific conditions or requirements imposed by the landlord for the assignment

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

Property Management

Commercial Property

Residential Property

Retail

Hospitality

Office Space Management

Industrial Property

Banking and Finance

Legal Services

Relevant Teams

Legal

Property Management

Real Estate

Facilities Management

Operations

Compliance

Asset Management

Leasing

Contract Administration

Risk Management

Relevant Roles

Property Manager

Real Estate Manager

Legal Counsel

Compliance Officer

Facilities Manager

Leasing Manager

Asset Manager

Property Administrator

Real Estate Attorney

Tenant Relations Manager

Commercial Property Manager

Operations Manager

Contract Administrator

Industries
National Land Code 1965: The primary legislation governing land matters in Peninsular Malaysia, including provisions for dealing with property rights, registration of titles, and transfer of interests in land.
Contracts Act 1950: Governs the formation and enforcement of contracts in Malaysia, including requirements for valid contracts, terms and conditions, and remedies for breach.
Stamp Act 1949: Requires proper stamping of documents related to property transactions, including assignments and tenancy agreements, to make them legally admissible in court.
Civil Law Act 1956: Contains provisions relating to leases and tenancies, including the rights and obligations of landlords and tenants.
Distress Act 1951: Provides remedies for landlords to recover rent arrears through the seizure of tenant's property on the premises.
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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