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Change Of Tenant Lease Addendum

Change Of Tenant Lease Addendum Template for India

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Key Requirements PROMPT example:

Change Of Tenant Lease Addendum

"I need a Change of Tenant Lease Addendum for my residential property in Mumbai, where the current tenant is moving out on March 1, 2025, and the new tenant wants to take over the remaining 8 months of the lease term while maintaining the same rent and conditions."

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Document background
The Change of Tenant Lease Addendum is a crucial document used in the Indian real estate market when an existing tenant needs to be replaced by a new tenant during an ongoing lease term. This document is particularly relevant when the original tenant needs to terminate their tenancy early, and a suitable replacement tenant has been found. The addendum ensures compliance with Indian property laws, including the Transfer of Property Act, 1882, and state-specific rent control regulations. It covers essential elements such as the transfer of rights and obligations, security deposit arrangements, and the effective date of the change. The document protects all parties' interests by clearly defining the transition process while maintaining the validity of the original lease agreement's terms and conditions. It is commonly used in both residential and commercial property contexts and requires proper execution and potentially registration depending on the lease duration and local requirements.
Suggested Sections

1. Parties: Identification of all parties: Landlord, Original Tenant (outgoing), and New Tenant (incoming)

2. Background: Details of the original lease agreement including date, property description, and reason for tenant change

3. Definitions: Key terms used in the addendum including 'Original Lease', 'Effective Date', 'Property', 'Security Deposit'

4. Assignment and Assumption: Formal transfer of rights and obligations from original tenant to new tenant

5. Effective Date: Specific date when the change of tenant becomes effective

6. Security Deposit Arrangements: Handling of existing security deposit and arrangements for new deposit

7. Continuing Obligations: Confirmation that all other terms of the original lease remain unchanged

8. Liability Provisions: Details of ongoing liability of original tenant and assumption of liability by new tenant

9. Execution: Signature blocks for all parties and witnessing requirements

Optional Sections

1. Guarantor Provisions: Required when there is a guarantor for either the original or new tenant

2. Property Condition: Include when there needs to be a formal record of the property condition at the time of transfer

3. Rent Payment Arrangements: Include when there are specific arrangements for pro-rating rent between tenants

4. Outstanding Charges: Include when there are unpaid utilities or other charges to be settled

5. Maintenance Issues: Include when there are ongoing maintenance issues that need to be documented

6. Special Conditions: Any specific conditions agreed between the parties that differ from the original lease

Suggested Schedules

1. Schedule 1 - Original Lease Agreement: Copy or key details of the original lease agreement being modified

2. Schedule 2 - Property Inventory: Updated inventory list and condition report at the time of tenant change

3. Schedule 3 - Outstanding Payments: List of any outstanding payments or adjustments between parties

4. Appendix A - Handover Form: Document recording meter readings, key handover, and other practical transition matters

5. Appendix B - Consent Letters: Any required consent letters from relevant parties (e.g., housing society, guarantors)

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
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Relevant Industries

Real Estate

Property Management

Residential Housing

Commercial Property

Retail Leasing

Office Space Leasing

Industrial Property

Student Housing

Corporate Housing

Relevant Teams

Legal

Property Management

Real Estate

Facilities Management

Tenant Relations

Administrative Services

Compliance

Operations

Asset Management

Document Management

Relevant Roles

Property Manager

Real Estate Manager

Leasing Manager

Legal Counsel

Property Administrator

Facilities Manager

Asset Manager

Tenant Relations Manager

Real Estate Officer

Compliance Officer

Housing Officer

Lease Administrator

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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