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Assignment Fee Lease Template for England and Wales

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Key Requirements PROMPT example:

Assignment Fee Lease

"I need an Assignment Fee Lease for a luxury apartment in London, where the assignment fee will be 1% of the sale price, and the incoming tenant is a corporate entity requiring specific provisions for company restructuring."

Document background
The Assignment Fee Lease is a specialized legal instrument used in England and Wales when transferring leasehold interests between parties while incorporating specific fee arrangements. This document is particularly relevant when landlords wish to maintain control over assignments while generating additional revenue through assignment fees. The document typically includes detailed provisions about fee calculations, payment terms, and conditions for assignment, ensuring compliance with the Law of Property Act 1925 and related legislation. Assignment Fee Leases are commonly used in retirement developments, luxury apartments, and other specialized residential or commercial properties where the landlord wishes to maintain certain standards and generate income from property transfers.
Suggested Sections

1. Parties: Details of the landlord, tenant, and any guarantors

2. Background: Context of the lease assignment and property details

3. Definitions: Key terms used throughout the document

4. Assignment Provisions: Core terms regarding the assignment of the lease

5. Assignment Fee: Details of the fee structure and payment terms

6. Covenants: Ongoing obligations of all parties

Optional Sections

1. Service Charge Provisions: Include when property has shared facilities or services - typically used for leases in multi-unit buildings or estates

2. Management Company Provisions: Terms relating to property management - used when a management company is involved in the property

3. Insurance Provisions: Specific insurance requirements - used when insurance arrangements differ from standard terms

Suggested Schedules

1. Property Description: Detailed description of the property including plans

2. Original Lease: Copy of the lease being assigned

3. Conditions Precedent: Any conditions that must be met before assignment

4. Service Charge Schedule: Breakdown of service charges if applicable

5. Plans: Property plans and drawings

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions






























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Industries

Law of Property Act 1925: Fundamental legislation governing property law in England and Wales, covering legal estates, valid lease requirements, assignments, and registration requirements

Landlord and Tenant Act 1985: Key legislation defining landlord's obligations, service charge provisions, and requirements for fitness for human habitation

Landlord and Tenant Act 1987: Covers right of first refusal provisions and service charge consultation requirements for residential leases

Consumer Rights Act 2015: Modern legislation ensuring fairness and transparency in consumer contracts, including residential leases

Commonhold and Leasehold Reform Act 2002: Legislation governing service charges, management provisions, and rights of leaseholders in residential leases

Land Registration Act 2002: Governs the registration of land and property interests, including requirements and priority of interests

Housing Act 1988: Contains provisions relating to assured shorthold tenancies and residential letting requirements

Unfair Terms in Consumer Contracts Regulations 1999: Regulates fairness in contract terms, particularly important for residential leases

Equality Act 2010: Ensures non-discrimination in property transactions and lettings

Consumer Protection from Unfair Trading Regulations 2008: Protects against misleading actions or omissions in property transactions and lettings

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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