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Partial Assignment Of Lease

Partial Assignment Of Lease Template for Ireland

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Key Requirements PROMPT example:

Partial Assignment Of Lease

"I need a Partial Assignment of Lease for assigning 60% of my retail warehouse space in Dublin to a logistics company, while retaining the remaining space for my operations, with the assignment to commence from March 1, 2025."

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Document background
A Partial Assignment of Lease is utilized when a tenant wishes to transfer only a portion of their leased premises to another party while maintaining their tenancy over the remaining space. This document type is particularly relevant in the Irish commercial property market, where businesses may need to downsize or optimize their space usage without completely surrendering their lease. The document must comply with Irish property law requirements and typically requires the landlord's explicit consent. It includes crucial elements such as precise descriptions of the assigned and retained areas, apportionment of rent and service charges, and allocation of responsibilities between the parties. The Partial Assignment of Lease must address practical considerations like access rights, shared facilities, and service charge calculations, while ensuring compliance with the Registration of Title Act 1964 and relevant stamp duty obligations.
Suggested Sections

1. Parties: Identifies all parties: Original Lessee (Assignor), Assignee, and Landlord (if consenting party to the deed)

2. Background: Recitals explaining the original lease, the intention to partially assign, and confirmation of landlord's consent if obtained

3. Definitions: Defines key terms including 'Original Lease', 'Assigned Premises', 'Retained Premises', 'Assignment Date', and other relevant terms

4. Partial Assignment: Core clause setting out the partial assignment of the lease, specifically detailing which rights and obligations are being assigned

5. Assigned Rights and Obligations: Detailed description of the specific lease rights and obligations being transferred to the Assignee

6. Retained Rights and Obligations: Clear statement of which rights and obligations are being retained by the Assignor

7. Apportionment of Rent and Other Payments: Details how rent, service charges, and other payments will be divided between Assignor and Assignee

8. Mutual Covenants: Commitments between Assignor and Assignee regarding their respective obligations

9. Landlord's Consent: Acknowledgment and incorporation of the landlord's consent to the partial assignment

10. Completion Requirements: Practical requirements for completing the assignment, including registration and notices

11. Governing Law: Confirms Irish law as the governing law of the assignment

Optional Sections

1. Environmental Matters: Required when the assigned premises involves specific environmental responsibilities or risks

2. Service Charge Provisions: Needed when there are complex service charge arrangements that need to be apportioned

3. Insurance Obligations: Required when insurance responsibilities need to be specifically allocated between parties

4. Guarantor Provisions: Include when there is a guarantor for either the Assignor or Assignee

5. Break Rights: Required when the original lease contains break rights that need to be addressed in the partial assignment

6. VAT Provisions: Include when the assignment has VAT implications that need to be specifically addressed

Suggested Schedules

1. Schedule 1 - The Original Lease: Copy or details of the original lease being partially assigned

2. Schedule 2 - The Assigned Premises: Detailed description and/or plans of the portion of the premises being assigned

3. Schedule 3 - The Retained Premises: Detailed description and/or plans of the portion of the premises being retained

4. Schedule 4 - Apportionment Schedule: Detailed breakdown of how rent, service charges, and other payments are apportioned

5. Schedule 5 - Landlord's Consent: Copy of the landlord's consent to the partial assignment

6. Appendix A - Plans: Plans clearly showing the assigned and retained portions of the premises

7. Appendix B - Conditions Precedent: List of any conditions that must be satisfied before the assignment becomes effective

Authors

Alex Denne

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

alex.den.21@genieai.co
Relevant legal definitions









































Clauses






































Relevant Industries

Commercial Real Estate

Retail

Office Space

Industrial & Warehousing

Healthcare

Education

Hospitality

Manufacturing

Professional Services

Technology

Relevant Teams

Legal

Real Estate

Facilities Management

Finance

Operations

Risk & Compliance

Property Management

Asset Management

Corporate Services

Relevant Roles

Property Manager

Facilities Manager

Real Estate Director

Legal Counsel

Commercial Director

Operations Manager

Chief Financial Officer

Asset Manager

Lease Administrator

Real Estate Portfolio Manager

Property Surveyor

Compliance Officer

Risk Manager

Industries






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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