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Assignment Of Lease Deed
"I need an Assignment of Lease Deed for transferring my commercial warehouse lease in Lagos Industrial Estate to ABC Manufacturing Ltd, with the assignment to take effect from March 1, 2025; the original lease has 15 years remaining and includes specialized manufacturing permit conditions that need to be transferred."
1. Parties: Identification of the Assignor (current lessee), Assignee (new lessee), and where applicable, the original Lessor's details
2. Background: Recitals detailing the original lease, its registration details, and the intention to assign the lease
3. Definitions: Definitions of key terms used throughout the deed including 'Lease', 'Property', 'Assignment Date', etc.
4. Assignment: The operative clause that effects the transfer of the lease from Assignor to Assignee
5. Consideration: Details of the payment or other consideration for the assignment
6. Assignor's Covenants: Warranties and representations by the Assignor regarding their right to assign and the status of the lease
7. Assignee's Covenants: Undertakings by the Assignee to comply with lease terms and indemnify the Assignor
8. Completion: Details of the completion process, including timing and delivery of documents
9. Governor's Consent: Provisions relating to obtaining necessary consent under the Land Use Act
10. Registration: Requirements for registration of the assignment at the lands registry
11. Execution: Formal execution block for all parties
1. Lessor's Consent: Required if the original lease requires explicit consent from the Lessor for assignment
2. Outstanding Payments: Include when there are any rent arrears or other payments to be addressed
3. Security Deposit: Required when there is a security deposit to be transferred or dealt with
4. Service Charge Provisions: Include for commercial properties with service charge arrangements
5. Break Clause: Include if any special break rights are to be assigned or modified
6. Environmental Provisions: Required for industrial or potentially contaminated properties
7. Planning Permissions: Include when the property use depends on specific planning permissions
1. Schedule 1 - Property Description: Detailed description of the property including boundaries and plan
2. Schedule 2 - Original Lease: Copy or summary of the original lease terms and conditions
3. Schedule 3 - Outstanding Matters: List of any pending obligations, repairs, or other matters to be addressed
4. Appendix A - Property Plans: Plans and drawings of the property
5. Appendix B - Photographs: Current photographs of the property condition
6. Appendix C - Consent Documents: Copies of relevant consents (Governor's, Lessor's, etc.)
Authors
Real Estate
Commercial Property
Industrial
Retail
Hospitality
Healthcare
Education
Manufacturing
Warehousing
Office Space
Residential Property
Legal
Real Estate
Facilities Management
Operations
Finance
Compliance
Risk Management
Property Administration
Corporate Affairs
Real Estate Manager
Property Manager
Legal Counsel
Corporate Lawyer
Facilities Manager
Operations Director
Chief Financial Officer
Company Secretary
Real Estate Director
Lease Administrator
Property Administrator
Compliance Officer
Risk Manager
Asset Manager
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