The Lease Assignment Agreement is a critical document used in the UAE real estate market when a tenant wishes to transfer their lease obligations to another party before the lease term expires. This document is essential for ensuring compliance with UAE federal and emirate-specific property laws, including registration requirements with relevant authorities such as RERA in Dubai or the Department of Municipalities and Transport in Abu Dhabi. The agreement covers comprehensive details about the property, parties involved, financial arrangements, and specific conditions of the assignment. It's particularly important in commercial and residential contexts where early lease termination isn't feasible, and assignment presents a viable alternative. The document must align with both the UAE Civil Code and specific real estate regulations of the relevant emirate.
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1. Parties: Identification of the Assignor (current tenant), Assignee (new tenant), and Landlord
2. Background: Details of the existing lease, property description, and context for the assignment
3. Definitions: Definitions of key terms used throughout the agreement
4. Assignment: Core provision transferring the lease from Assignor to Assignee
5. Consideration: Details of any payment between Assignor and Assignee for the assignment
6. Landlord's Consent: Confirmation of the Landlord's consent to the assignment and any conditions attached
7. Security Deposit: Arrangements for transfer or replacement of the security deposit
8. Assignor's Warranties: Warranties regarding the lease, property condition, and outstanding obligations
9. Assignee's Covenants: Assignee's promises to comply with lease terms and obligations
10. Handover: Provisions for physical handover of the property and any fixtures/fittings
11. Registration: Requirements for registering the assignment with relevant authorities
12. Costs: Allocation of costs related to the assignment and registration
13. Governing Law and Jurisdiction: Confirmation of UAE law application and jurisdiction
1. Condition of Premises: Detailed section about property condition, used when there are specific concerns or valuable fixtures
2. Outstanding Violations: Section addressing any existing violations or pending actions, used when there are known issues
3. Broker Provisions: Section covering broker involvement and fees, used when brokers are involved in the transaction
4. Post-Assignment Obligations: Special arrangements between Assignor and Assignee after assignment, used for complex transitions
5. Utility Transfers: Detailed provisions for utility account transfers, used for residential or comprehensive commercial assignments
6. Service Contracts: Provisions regarding existing service contracts, used for commercial properties with ongoing service arrangements
1. Schedule 1 - Original Lease: Copy of the original lease agreement and any amendments
2. Schedule 2 - Property Details: Detailed description of the property including floor plans and parking allocations
3. Schedule 3 - Inventory: List of fixtures, fittings, and equipment included in the assignment
4. Schedule 4 - Outstanding Payments: Details of any rent, service charges, or other payments due
5. Schedule 5 - Landlord's Consent Letter: Formal written consent from the Landlord
6. Schedule 6 - Handover Protocol: Procedure and checklist for physical handover of the property
7. Appendix A - Required Documents: List of documents required for registration and completion
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