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Lease Takeover Agreement
"I need a Lease Takeover Agreement for my three-bedroom HDB flat in Singapore, where my current tenant wants to transfer their lease to a new tenant from March 1, 2025, with 18 months remaining on the original lease term."
1. Parties: Identifies all parties involved: current tenant, new tenant, and landlord
2. Background: Details of original lease and circumstances of takeover
3. Definitions: Key terms used throughout the agreement
4. Assignment Terms: Core terms of the lease takeover including transfer of rights and obligations
5. Security Deposit Arrangements: Handling of existing and new security deposits between current tenant, new tenant and landlord
6. Effective Date: When the takeover becomes effective and handover arrangements
7. Liabilities and Obligations: Transfer of responsibilities between parties and ongoing obligations
1. Property Condition: Details of current state of property, including any damages or defects to be noted
2. Outstanding Payments: Provisions for handling any unpaid rent, utilities or other charges
3. Break Clause: Early termination provisions and conditions for the new tenant
1. Schedule 1 - Original Lease Agreement: Copy of the existing lease agreement being taken over
2. Schedule 2 - Property Inventory: Comprehensive list of fixtures, fittings, and contents included in the lease
3. Schedule 3 - Condition Report: Detailed report documenting property condition at time of takeover
4. Schedule 4 - Payment Schedule: Breakdown of rent, deposit, and other payment arrangements
5. Schedule 5 - Landlord's Consent: Written approval from landlord authorizing the lease takeover
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