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Lease Transfer Agreement Form

Lease Transfer Agreement Form Template for Malaysia

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Key Requirements PROMPT example:

Lease Transfer Agreement Form

"I need a Lease Transfer Agreement Form for transferring a commercial warehouse lease in Kuala Lumpur from my company to another business, with the transfer to take effect from March 1, 2025; the original lease has 3 years remaining and includes specialized manufacturing equipment."

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Document background
The Lease Transfer Agreement Form is a crucial legal instrument in Malaysian property law, designed to facilitate the formal transfer of leasehold interests between parties. This document becomes necessary when an existing tenant wishes to transfer their lease obligations to a new tenant before the original lease term expires. The agreement must comply with the National Land Code 1965 and other relevant Malaysian property legislation, requiring the explicit consent of the landlord. It includes essential details such as party information, property specifications, financial terms, and transfer conditions. The document serves to protect all parties' interests by clearly defining rights, responsibilities, and obligations in the transfer process. A properly executed Lease Transfer Agreement ensures legal compliance while maintaining the integrity of the original lease terms under Malaysian jurisdiction.
Suggested Sections

1. Parties: Identification of all parties involved: Original Lessee (Transferor), New Lessee (Transferee), and Landlord

2. Background: Recitals explaining the existing lease arrangement and the intention to transfer

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

4. Transfer of Lease: Core provisions detailing the transfer of rights and obligations from Transferor to Transferee

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

6. Effective Date: Specification of when the transfer takes effect

7. Landlord's Consent: Confirmation of the landlord's approval of the transfer

8. Transferor's Warranties: Warranties regarding the lease status, payments, and property condition

9. Transferee's Covenants: New lessee's commitments to comply with original lease terms

10. Outstanding Obligations: Statement of any pending obligations or liabilities

11. Handover Provisions: Process for physical handover of the property and any fixtures/fittings

12. Execution: Formal signing section including witness requirements

Optional Sections

1. Security Deposit Transfer: Details of security deposit transfer arrangements, if applicable

2. Utilities and Services: Provisions for transfer of utility accounts and ongoing services

3. Existing Tenants: Required when there are sub-tenants in the property

4. Renovation Works: Include when there are ongoing or planned renovation works

5. Break Clause: Optional early termination provisions for the transferee

6. Insurance: Specific insurance requirements beyond the original lease terms

7. Dispute Resolution: Specific dispute resolution mechanisms if different from original lease

8. Registration Requirements: Include if the transfer requires registration with authorities

Suggested Schedules

1. Schedule 1 - Original Lease: Copy or details of the original lease agreement

2. Schedule 2 - Property Details: Detailed description of the leased property including address and boundaries

3. Schedule 3 - Inventory: List of fixtures, fittings, and items included in the transfer

4. Schedule 4 - Outstanding Payments: Details of any rent, utilities, or other payments due

5. Schedule 5 - Condition Report: Current condition of the property at time of transfer

6. Appendix A - Landlord's Consent Letter: Written consent from landlord for the transfer

7. Appendix B - Required Certificates: Copies of relevant certificates or permits

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

Industrial

Hospitality

Office Space Management

Manufacturing

Warehousing

Healthcare

Relevant Teams

Legal

Property Management

Real Estate Operations

Facilities Management

Contract Administration

Compliance

Asset Management

Tenant Relations

Corporate Secretarial

Operations

Relevant Roles

Property Manager

Legal Counsel

Real Estate Manager

Facilities Manager

Contract Administrator

Lease Administrator

Property Operations Director

Asset Manager

Real Estate Agent

Tenant Relations Manager

Legal Officer

Company Secretary

Operations Manager

Commercial Director

Compliance Officer

Industries
National Land Code 1965: The primary legislation governing land matters in Peninsular Malaysia, including regulations on property transfers, leases, and registration requirements
Contracts Act 1950: Governs the formation and enforcement of contracts in Malaysia, including essential elements like offer, acceptance, and consideration
Stamp Act 1949: Mandates the stamping requirements and duties payable for legal documents including lease agreements and transfers
Civil Law Act 1956: Provides the basic framework for civil law matters and contains provisions relevant to property transactions and contracts
Specific Relief Act 1950: Contains provisions for enforcement and remedies in case of breach of contract or property disputes
State Land Rules: State-specific regulations governing land matters and property transactions within respective states
Commercial Tenancy Act (if applicable): Governs commercial property leases and transfers if the property is for commercial use
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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