Document background
A Letter of Intent to Transfer Lease is commonly used in Singapore's property market when a current lessee wishes to transfer their lease obligations to another party. This document serves as an initial step in the lease transfer process, demonstrating serious intent while allowing parties to negotiate terms before committing to legally binding agreements. It typically includes essential information such as property details, existing lease terms, proposed transfer conditions, and any specific requirements under Singapore law. The document is particularly useful in commercial settings where formal documentation needs to be preceded by clear written intentions and basic terms agreement. While not legally binding, it often forms the basis for the subsequent formal lease transfer agreement and helps ensure all parties have a clear understanding of the proposed transaction.
