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Deed Of Rental Assignment

Deed Of Rental Assignment Template for Nigeria

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Key Requirements PROMPT example:

Deed Of Rental Assignment

"I need a Deed of Rental Assignment for transferring my commercial shop lease in Lagos to a new tenant from March 1, 2025, with the landlord already having given verbal consent and including provisions for the transfer of existing shop fittings."

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Document background
The Deed of Rental Assignment is a crucial legal instrument used in Nigerian property transactions when an existing tenant wishes to transfer their rental rights and obligations to another party. This document is essential when the original tenant needs to exit a lease agreement before its natural expiration, and another party is willing to take over the rental obligations. The deed must comply with Nigerian property law, including state-specific regulations and the Recovery of Premises Act. It includes detailed information about the property, parties involved, financial terms, and specific conditions of the assignment. The document becomes particularly important in commercial leases where businesses need to transfer their lease interests, or in residential contexts where tenants need to relocate. All assignments must receive landlord approval and be properly executed to be legally valid under Nigerian law.
Suggested Sections

1. Parties: Identifies all parties: the Assignor (current tenant), the Assignee (new tenant), and the Landlord

2. Background: Recitals explaining the existing lease arrangement and the intention to assign

3. Definitions: Defines key terms used throughout the deed

4. Assignment: Core provision transferring the tenant's interest in the lease to the assignee

5. Consideration: Details of the payment or other consideration for the assignment

6. Assignor's Covenants: Warranties and promises by the current tenant regarding the lease status

7. Assignee's Covenants: New tenant's promises to comply with lease terms and obligations

8. Landlord's Consent: Confirmation of the landlord's approval of the assignment

9. Completion: Details of when and how the assignment will take effect

10. Governing Law: Specifies Nigerian law as governing the deed

Optional Sections

1. Security Deposit Transfer: Required if there is an existing security deposit to be transferred or adjusted

2. Outstanding Repairs: Needed if there are pending maintenance issues or repair obligations to be addressed

3. Rent Apportionment: Include when assignment occurs mid-rent period to handle pro-rata payments

4. Service Charge Arrangements: Required if there are service charges or maintenance fees to be transferred

5. Existing Modifications: Include if tenant has made authorized modifications to the property

6. Third Party Consents: Required if other parties beyond the landlord need to approve the assignment

Suggested Schedules

1. Schedule 1 - Property Description: Detailed description of the rental property including address and any included fixtures/fittings

2. Schedule 2 - Original Lease: Copy or key terms of the existing lease being assigned

3. Schedule 3 - Rent and Payment Details: Current rent amount, payment dates, and any review provisions

4. Schedule 4 - Condition Report: Current condition of the property at time of assignment

5. Schedule 5 - Outstanding Obligations: List of any pending obligations or liabilities under the lease

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

Commercial Property

Residential Property

Retail

Office Space

Industrial

Hospitality

Education

Healthcare

Relevant Teams

Legal

Real Estate

Property Management

Facilities Management

Operations

Compliance

Asset Management

Tenant Relations

Administration

Risk Management

Relevant Roles

Property Manager

Real Estate Manager

Legal Counsel

Facilities Manager

Tenant Relations Manager

Lease Administrator

Real Estate Agent

Property Lawyer

Compliance Officer

Asset Manager

Operations Manager

Housing Officer

Estate Agent

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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