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Lease Transfer Agreement Template for Malaysia

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Key Requirements PROMPT example:

Lease Transfer Agreement

"I need a Lease Transfer Agreement for my retail shop in Kuala Lumpur, where I'm transferring my existing 5-year lease to a new tenant effective March 1, 2025, with the current lease having 3 years remaining."

Document background
The Lease Transfer Agreement is a crucial document used when an existing tenant wishes to transfer their leasehold rights and obligations to a new tenant in Malaysia. This type of agreement is commonly required in situations where a business is being sold, a tenant needs to relocate, or circumstances necessitate an early exit from a lease commitment. The document must comply with Malaysian property and contract laws, particularly the National Land Code 1965 and the Contracts Act 1950. It includes essential details such as party information, property specifications, transfer terms, financial arrangements, and the required landlord's consent. The agreement ensures a smooth transition of tenancy while protecting the interests of all parties involved and maintaining legal compliance with Malaysian property regulations.
Suggested Sections

1. Parties: Identifies and provides full details of the Transferor (current tenant), Transferee (new tenant), and Landlord

2. Background: Explains the existing lease arrangement and the intention to transfer the lease

3. Definitions: Defines key terms used throughout the agreement

4. Transfer and Acceptance: Core provision detailing the transfer of lease rights and obligations from Transferor to Transferee

5. Consideration: States the amount payable (if any) for the transfer of the lease

6. Effective Date: Specifies when the transfer takes effect

7. Landlord's Consent: Documents the Landlord's approval of the transfer

8. Transferor's Warranties: Warranties regarding the lease status, payments, and property condition

9. Transferee's Covenants: New tenant's commitments to comply with original lease terms

10. Handover Provisions: Details about physical possession, keys, and property condition

11. Governing Law: Specifies Malaysian law as governing law

12. Execution: Signature blocks for all parties

Optional Sections

1. Security Deposit Transfer: Required when there's a transfer or replacement of security deposit

2. Outstanding Payments: Needed when addressing any rent arrears or pending payments

3. Renovation and Restoration: Include when there are specific arrangements about existing alterations or restoration requirements

4. Assignment of Contracts: Required when transferring related contracts (e.g., maintenance agreements)

5. Break Clause: Include if parties want to maintain or modify any early termination rights

6. Indemnification: Additional protection clauses for specific risks or liabilities

7. Dispute Resolution: Detailed dispute resolution procedures if desired beyond basic governing law

Suggested Schedules

1. Schedule 1 - Original Lease: Copy or details of the original lease agreement

2. Schedule 2 - Property Details: Detailed description of the leased property including address and specifications

3. Schedule 3 - Inventory List: List of fixtures, fittings, and equipment included in the transfer

4. Schedule 4 - Outstanding Obligations: List of any ongoing obligations or pending matters

5. Schedule 5 - Condition Report: Current condition of the property at transfer

6. Appendix A - Landlord's Consent Letter: Formal written consent from the landlord

7. Appendix B - Transfer Forms: Any statutory forms required for the transfer

Authors

Alex Denne

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

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Relevant Industries

Real Estate

Commercial Property

Retail

Industrial

Hospitality

Office Space

Manufacturing

Logistics

Healthcare

Education

Relevant Teams

Legal

Real Estate

Facilities Management

Operations

Finance

Administration

Compliance

Property Management

Asset Management

Corporate Services

Relevant Roles

Property Manager

Facilities Manager

Real Estate Manager

Legal Counsel

Contract Administrator

Business Owner

Operations Manager

Company Secretary

Lease Administrator

Commercial Director

Real Estate Director

Chief Financial Officer

Asset Manager

Property 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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