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Deed Of Consent To Assignment Of Lease

Deed Of Consent To Assignment Of Lease Template for Malaysia

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Key Requirements PROMPT example:

Deed Of Consent To Assignment Of Lease

"I need a Deed of Consent to Assignment of Lease for my retail space in Kuala Lumpur, where I'm transferring my 5-year lease to a new tenant who will operate a different type of business, and the landlord requires additional security deposit provisions."

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Document background
The Deed of Consent to Assignment of Lease is a critical document in Malaysian property transactions, required whenever an existing tenant wishes to transfer their lease to another party. This document is essential under Malaysian law, particularly in compliance with the National Land Code 1965 and related property legislation. It serves to protect the interests of all parties involved - the landlord, the outgoing tenant, and the incoming tenant. The deed typically includes details of the original lease, the parties involved, conditions for consent, and any continuing obligations. It's particularly important in commercial contexts where businesses need to transfer their lease interests, whether due to business sales, restructuring, or other commercial requirements. The document ensures proper documentation of the landlord's consent and sets out clear terms for the assignment, helping prevent future disputes and ensuring legal compliance.
Suggested Sections

1. Parties: Identifies all parties: Original Landlord (Lessor), Current Tenant (Assignor), and Proposed New Tenant (Assignee)

2. Background: Recitals explaining the original lease, the intention to assign, and the requirement for landlord's consent

3. Definitions: Defines key terms used in the deed including 'Lease', 'Assignment', 'Property', and 'Effective Date'

4. Interpretation: Sets out rules for interpreting the deed, including references to legislation and time periods

5. Consent to Assignment: The formal consent clause where the landlord grants permission for the assignment

6. Conditions of Consent: Specific conditions that must be fulfilled for the consent to be effective

7. Assignee's Covenants: New tenant's direct covenants with the landlord to perform lease obligations

8. Assignor's Continuing Obligations: Specification of any continuing obligations of the current tenant

9. Costs and Stamp Duty: Provisions regarding payment of legal costs and stamp duty for the consent

10. Notices: Procedures for serving notices under the deed

11. Execution: Formal execution blocks for all parties with attestation clauses

Optional Sections

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

2. Conditions Precedent: Included when specific conditions must be met before the consent becomes effective

3. Security Deposit: Required when there are specific arrangements for transfer or top-up of security deposits

4. Landlord's Reserved Rights: Optional section preserving specific landlord's rights or remedies

5. Registration Requirements: Included when specific registration requirements need to be detailed

6. Representative's Authority: Required when any party is acting through an authorized representative

Suggested Schedules

1. Schedule 1: Property Details: Detailed description of the leased property including address and title particulars

2. Schedule 2: Original Lease Details: Key details of the original lease including date, parties, and registration particulars

3. Schedule 3: Assignee Information: Details about the new tenant including business registration or identification information

4. Schedule 4: Conditions of Consent: Detailed list of conditions that must be satisfied for the consent to be effective

5. Appendix A: Copy of Original Lease: Attached copy of the original lease agreement

6. Appendix B: Draft Assignment: Copy of the proposed deed of 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

Retail

Commercial Property

Industrial

Manufacturing

Hospitality

Office Space

Shopping Centers

Warehousing

Healthcare Facilities

Relevant Teams

Legal

Property Management

Real Estate Operations

Facilities Management

Contract Administration

Asset Management

Compliance

Property Services

Commercial Operations

Documentation

Relevant Roles

Property Manager

Legal Counsel

Real Estate Manager

Facilities Manager

Commercial Lease Administrator

Property Operations Director

Asset Manager

Tenant Relations Manager

Legal Officer

Contract Administrator

Real Estate Director

Compliance Officer

Industries
National Land Code 1965: The primary legislation governing land matters in Peninsular Malaysia, which provides the legal framework for lease assignments and requirements for registration of interests in land.
Contracts Act 1950: Governs the formation and enforcement of contracts in Malaysia, including requirements for valid consent and contractual obligations in lease assignments.
Stamp Act 1949: Regulates the stamping requirements and duties payable for instruments including deeds and lease assignments.
Registration of Deeds Act 1949: Provides for the registration of deeds and instruments affecting land and property interests.
Distress Act 1951: Relevant for understanding the rights of landlords and tenants in relation to lease assignments and rental payments.
Civil Law Act 1956: Contains provisions relating to the application of English common law principles in commercial matters, including property transactions.
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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