Assign Tenancy Agreement Template for Hong Kong

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Key Requirements PROMPT example:

Assign Tenancy Agreement

"I need an Assignment of Tenancy Agreement for my commercial office space in Central, Hong Kong, where I want to transfer my existing 5-year lease to a new tenant effective March 1, 2025, with the landlord's consent already obtained."

Document background
The Assignment of Tenancy Agreement is a crucial document used in Hong Kong when an existing tenant wishes to transfer their tenancy rights and obligations to a new tenant before the original lease expires. This document is essential in both commercial and residential contexts, requiring careful drafting to ensure compliance with Hong Kong's property laws and regulations. The agreement must address key elements including the transfer of rights, security deposit arrangements, outstanding payments, and ongoing obligations. It requires the explicit consent of the landlord and must be properly stamped and registered according to Hong Kong law. The document protects all parties' interests by clearly defining the terms of the assignment and ensuring a smooth transition of tenancy rights.
Suggested Sections

1. Parties: Identifies the Landlord, Original Tenant (Assignor), and New Tenant (Assignee)

2. Background: Recites the existing tenancy agreement details, reason for assignment, and confirms landlord's consent

3. Definitions: Defines key terms used throughout the agreement including Property, Original Tenancy Agreement, Assignment Date

4. Assignment: Core provision detailing the transfer of rights and obligations from Assignor to Assignee

5. Consideration: States the payment (if any) made by the Assignee to the Assignor for the assignment

6. Assignor's Covenants: Warranties and representations by the Original Tenant regarding the tenancy

7. Assignee's Covenants: New Tenant's undertaking to comply with original tenancy terms and perform obligations

8. Landlord's Consent: Formal statement of Landlord's agreement to the assignment and any conditions attached

9. Effective Date: Specifies when the assignment takes effect

10. Completion Requirements: Lists actions required to complete the assignment including registration and stamp duty

11. Governing Law: Confirms Hong Kong law governs the agreement

12. Execution: Signature blocks for all parties

Optional Sections

1. Security Deposit Transfer: Used when the original tenant's security deposit is being transferred or dealt with

2. Outstanding Rent: Include when there are rent arrears or prepayments to be addressed

3. Renovation Works: Required if there are ongoing or planned renovation works that need to be addressed

4. Break Clause: Include if the assignment includes special termination rights

5. Property Management Fees: Include when there are outstanding management fees to be settled

6. Guarantee: Required when the Assignee must provide a guarantor

7. Costs: Include when parties need to specify how legal and registration costs are to be shared

Suggested Schedules

1. Schedule 1 - The Property: Detailed description of the property including address and identifying numbers

2. Schedule 2 - Original Tenancy Agreement: Copy or key terms of the original tenancy agreement being assigned

3. Schedule 3 - Inventory: List of fixtures, fittings, and furniture included in the tenancy

4. Schedule 4 - Outstanding Amounts: Details of any rent, management fees, or utilities to be apportioned

5. Schedule 5 - Conditions of Consent: Any specific conditions imposed by the Landlord for consenting to the assignment

6. Appendix A - Plans: Floor plans or location plans of the property if relevant

7. Appendix B - Photographs: Current condition photographs if required

Authors

Alex Denne

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

Relevant Industries

Real Estate

Property Management

Residential Property

Commercial Property

Retail

Hospitality

Office Space

Industrial Property

Legal Services

Property Investment

Relevant Teams

Legal

Real Estate

Property Management

Operations

Facilities

Administration

Compliance

Asset Management

Corporate Services

Relevant Roles

Property Manager

Real Estate Agent

Legal Counsel

Property Lawyer

Tenancy Administrator

Lease Administrator

Asset Manager

Property Officer

Facilities Manager

Real Estate Director

Compliance Officer

Company Secretary

Operations Manager

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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