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Property Assignment Agreement
"I need a Property Assignment Agreement to transfer ownership of a commercial warehouse in Vancouver from my corporation to a subsidiary company, with the transfer to be completed by March 1, 2025, including provisions for existing tenant agreements and equipment on the premises."
1. Parties: Identifies and provides full legal names and addresses of the assignor and assignee
2. Background: Provides context for the assignment, including the assignor's ownership/right to assign the property
3. Definitions: Defines key terms used throughout the agreement
4. Property Description: Detailed description of the property being assigned, including all relevant identifying information
5. Assignment and Transfer: Core provision transferring all right, title, and interest in the property from assignor to assignee
6. Consideration: States the payment or other consideration for the assignment
7. Representations and Warranties: Assignor's warranties regarding ownership, right to assign, and property condition
8. Closing and Effective Date: Specifies when the assignment takes effect and any closing requirements
9. Tax Matters: Addresses responsibility for transfer taxes and other tax implications
10. Further Assurances: Commitment to execute additional documents necessary to effect the assignment
11. Governing Law: Specifies that Canadian law governs the agreement
12. Execution: Signature blocks and execution requirements
1. Third Party Consents: Required when assignment needs approval from other parties
2. Environmental Matters: For real property assignments where environmental issues are relevant
3. Existing Encumbrances: When property is subject to liens, mortgages, or other encumbrances
4. Registration Requirements: For properties requiring registration of the assignment
5. Survival of Representations: Specifies which representations survive closing
6. Insurance: When insurance needs to be addressed during transfer period
7. Condition of Property: Detailed section about property condition when relevant
8. Assignment of Related Rights: When associated rights, licenses, or permits are being transferred
9. Indemnification: When specific indemnities are required beyond standard representations
1. Schedule A - Property Description: Detailed technical or legal description of the property
2. Schedule B - Permitted Encumbrances: List of accepted liens, encumbrances, or other limitations
3. Schedule C - Related Rights and Licenses: List of associated rights, permits, or licenses being transferred
4. Schedule D - Property Condition Report: Current condition assessment of the property
5. Schedule E - Required Consents: List of required third-party consents and their status
6. Appendix 1 - Property Documents: Copies of relevant property documentation
7. Appendix 2 - Transfer Tax Forms: Required tax forms for the property transfer
8. Appendix 3 - Registration Forms: Forms required for registering the assignment with relevant authorities
Authors
Real Estate
Commercial Property
Residential Property
Industrial
Agriculture
Mining
Retail
Hospitality
Infrastructure
Energy
Transportation
Healthcare
Education
Legal
Real Estate
Property Management
Asset Management
Facilities
Compliance
Corporate Affairs
Operations
Finance
Risk Management
Real Estate Lawyer
Property Manager
Asset Manager
Legal Counsel
Corporate Lawyer
Real Estate Agent
Property Developer
Facilities Manager
Estate Planning Attorney
Compliance Officer
Real Estate Portfolio Manager
Title Officer
Property Administrator
Real Estate Director
Land Registration Officer
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