The Assignment Of Lease To New Owner document is essential in Indonesian property transactions where a current tenant wishes to transfer their lease rights to a new owner. This document is commonly used in situations involving business acquisitions, property portfolio transfers, or when a tenant entity undergoes structural changes requiring lease assignment. It must comply with Indonesian Civil Code requirements and property regulations, including obtaining necessary approvals from the landlord and relevant authorities. The document typically includes comprehensive details about the original lease terms, property specifications, and any specific conditions of the assignment. It's particularly important in Indonesia's complex property law system, where proper documentation and registration of property rights transfers are strictly regulated. The document serves as crucial evidence of the legal transfer of lease rights and ensures all parties understand their respective obligations under Indonesian law.
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1. Parties: Identifies all parties involved: the current tenant (Assignor), the new owner (Assignee), and the Landlord
2. Background: Outlines the existence of the original lease, the intent to assign, and the landlord's consent to the assignment
3. Definitions: Defines key terms used throughout the agreement, including Property, Original Lease, Assignment Date, etc.
4. Assignment: Core provision transferring all rights, title, and interest in the lease from Assignor to Assignee
5. Consideration: States the payment or consideration for the assignment
6. Effective Date: Specifies when the assignment takes effect
7. Assignor's Warranties: Warranties regarding the lease status, no breaches, and authority to assign
8. Assignee's Covenants: New owner's commitments to comply with lease terms and obligations
9. Landlord's Consent: Formal documentation of the landlord's approval of the assignment
10. Original Lease Terms: Confirmation that all other terms of the original lease remain unchanged
11. Registration: Requirements for registering the assignment with relevant authorities
12. Costs: Allocation of costs related to the assignment
13. Governing Law: Specifies Indonesian law as governing law and relevant jurisdiction
14. Execution: Signature blocks and execution requirements
1. Security Deposit Transfer: Required if there is an existing security deposit to be transferred or replaced
2. Outstanding Repairs: Needed if there are any pending maintenance or repair obligations to be addressed
3. Broker/Agent Provisions: Include if any brokers or agents were involved in facilitating the assignment
4. Tax Indemnity: Required if specific tax arrangements or indemnities need to be addressed
5. Sublease Provisions: Include if there are any existing subleases that need to be addressed
6. Property Management: Required if there are specific property management arrangements to be transferred
7. Utilities and Services: Include if there are specific utility contracts or service agreements to be transferred
1. Schedule 1 - Property Details: Detailed description of the leased property, including address and specifications
2. Schedule 2 - Original Lease: Copy of the original lease agreement and any amendments
3. Schedule 3 - Rent and Payment Details: Current rent amount, payment terms, and any outstanding payments
4. Schedule 4 - Inventory: List of any fixtures, fittings, or equipment included in the lease assignment
5. Schedule 5 - Condition Report: Current condition of the property at the time of assignment
6. Appendix A - Landlord's Consent Letter: Formal written consent from the landlord
7. Appendix B - Registration Documents: Required forms and documents for official registration of the assignment
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Commercial Property
Retail
Hospitality
Industrial
Office Space
Residential Property
Manufacturing
Warehousing
Mixed-Use Development
Relevant Teams
Legal
Real Estate
Property Management
Facilities Management
Operations
Compliance
Risk Management
Corporate Services
Administrative Services
Contract Management
Asset Management
Relevant Roles
Property Manager
Real Estate Manager
Legal Counsel
Compliance Officer
Facilities Manager
Asset Manager
Business Development Manager
Operations Director
Commercial Director
Contract Administrator
Real Estate Attorney
Property Administrator
Lease Administrator
Corporate Real Estate Manager
Risk Manager
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