The Assignment Of Lease Agreement is a critical document used when an existing tenant wishes to transfer their lease rights and obligations to a new tenant under German law. This document is particularly relevant when tenants need to relocate, restructure their business, or otherwise transfer their lease obligations with the landlord's consent. The agreement must comply with the German Civil Code (BGB), specifically addressing requirements for both lease agreements and assignments of rights. It includes comprehensive details about the original lease, the premises, financial obligations, security deposits, and the specific terms of the transfer. The document is essential for maintaining legal certainty and protecting all parties' interests during the lease transfer process, whether for commercial or residential properties.
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1. Parties: Identification of the Original Tenant (Assignor), New Tenant (Assignee), and Landlord
2. Background: Details of the original lease agreement, reasons for assignment, and current status of the lease
3. Definitions: Key terms used throughout the agreement including 'Original Lease', 'Premises', 'Assignment Date', etc.
4. Assignment: Core provision transferring all rights and obligations under the lease from Assignor to Assignee
5. Effective Date: Specification of when the assignment takes effect
6. Landlord's Consent: Explicit statement of the landlord's consent to the assignment as required under German law
7. Assignor's Warranties: Confirmations regarding the status of the lease, no breaches, rent payments up to date, etc.
8. Assignee's Covenants: New tenant's commitment to comply with lease terms and perform all tenant obligations
9. Rent and Security Deposit: Handling of rent payments and transfer of security deposit arrangements
10. Notices: Process for sending formal communications between parties
11. Governing Law: Confirmation of German law application and jurisdiction
1. Broker Fees: Include when a broker was involved in facilitating the assignment
2. Renovation Obligations: Include when there are specific renovation or restoration obligations being transferred
3. Commercial Terms: Include for commercial property assignments with specific business-related provisions
4. Existing Defaults: Include when there are known breaches or defaults that need to be addressed
5. Joint and Several Liability: Include when the assignor remains liable alongside the assignee
6. Data Protection: Include when personal data processing goes beyond basic contract administration
1. Original Lease Agreement: Copy of the complete original lease agreement and any amendments
2. Property Description: Detailed description of the leased premises including address and any specific inclusions
3. Inventory List: List of any furniture, fixtures, or equipment included in the lease
4. Handover Protocol: Documentation of the property's condition at the time of assignment
5. Outstanding Obligations: List of any pending maintenance or repair obligations being transferred
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Commercial Property
Residential Property
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Manufacturing
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Professional Services
Relevant Teams
Legal
Real Estate
Property Management
Operations
Finance
Compliance
Facilities Management
Contract Administration
Asset Management
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Relevant Roles
Legal Counsel
Property Manager
Real Estate Manager
Facilities Manager
Corporate Counsel
Leasing Manager
Real Estate Broker
Asset Manager
Operations Manager
Finance Manager
Commercial Director
Compliance Officer
Contract Administrator
Real Estate Director
Tenant Relations Manager
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