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Assignment Deed Of Trust

Assignment Deed Of Trust Template for Indonesia

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Key Requirements PROMPT example:

Assignment Deed Of Trust

"I need an Assignment Deed of Trust to transfer trustee responsibilities from PT Bank Central Asia to PT Bank Mandiri for a commercial property trust in Jakarta, with the transition planned for March 2025; the document should comply with Indonesian regulations and include standard indemnification provisions."

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Document background
The Assignment Deed of Trust is a crucial legal instrument used in Indonesian trust law when there is a need to transfer trustee responsibilities from one party to another. This document becomes necessary in various situations, such as when a current trustee resigns, becomes incapacitated, or when there's a strategic decision to change trustees. The deed must comply with Indonesian Civil Code requirements and trust regulations, requiring proper notarization and registration. It includes comprehensive details about the trust property, rights, and obligations being transferred, ensuring a smooth transition while protecting the interests of all parties involved. The document typically contains specific provisions addressing Indonesian legal requirements, including notarial deed formats and registration procedures, making it distinct from similar documents in other jurisdictions.
Suggested Sections

1. Parties: Identification of the Assignor (current trustee), Assignee (new trustee), and any other relevant parties such as beneficiaries

2. Background: Context of the original trust, reason for assignment, and reference to the original trust deed

3. Definitions: Definitions of key terms used throughout the deed

4. Assignment and Transfer: Core provisions detailing the assignment of rights, obligations, and property from Assignor to Assignee

5. Effective Date: Specification of when the assignment takes effect

6. Warranties and Representations: Declarations by both parties regarding their capacity and authority to execute the assignment

7. Duties and Responsibilities: Outline of the continuing obligations and duties of the new trustee

8. Indemnification: Provisions for indemnification between parties

9. Governing Law: Specification that Indonesian law governs the deed

10. Registration and Notarization: Requirements for formal registration and notarization under Indonesian law

11. Execution: Formal execution requirements and signature blocks

Optional Sections

1. Consent of Beneficiaries: Required when beneficiary consent is needed for the assignment

2. Transitional Provisions: Used when there's a need for a handover period or specific transition arrangements

3. Tax Provisions: Include when there are specific tax implications or arrangements that need to be addressed

4. Security Arrangements: Required when the trust involves secured assets or security interests

5. Foreign Law Compliance: Include when the trust has international elements requiring compliance with foreign laws

6. Dispute Resolution: Optional detailed dispute resolution procedures, including mediation or arbitration provisions

7. Anti-Money Laundering Compliance: Required when the trust involves significant financial assets or cross-border elements

Suggested Schedules

1. Schedule A - Trust Property: Detailed inventory and description of all trust assets being transferred

2. Schedule B - Original Trust Deed: Copy or extract of the original trust deed

3. Schedule C - Beneficiary Details: List of beneficiaries and their respective interests

4. Schedule D - Outstanding Obligations: List of any ongoing obligations, liabilities, or commitments

5. Schedule E - Required Consents: Copies of all required consents and approvals

6. Schedule F - Transfer Documents: List and copies of supplementary transfer documents required for specific assets

7. Appendix 1 - Registration Requirements: Checklist and forms for required registrations under Indonesian law

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Financial Services

Banking

Real Estate

Asset Management

Investment Management

Private Wealth Management

Corporate Services

Family Office Services

Property Development

Trust Services

Legal Services

Relevant Teams

Legal

Compliance

Trust Administration

Asset Management

Wealth Management

Risk Management

Corporate Services

Operations

Client Relations

Document Management

Property Management

Relevant Roles

Trust Manager

Legal Counsel

Corporate Trustee

Compliance Officer

Asset Manager

Wealth Manager

Property Manager

Trust Administrator

Risk Manager

Company Secretary

Managing Director

Chief Legal Officer

Chief Financial Officer

Trust Operations Manager

Relationship Manager

Portfolio Manager

Industries
Indonesian Civil Code (Kitab Undang-undang Hukum Perdata): The fundamental law governing contracts, obligations, and property rights in Indonesia. Particularly relevant are Book III on Obligations and Book II on Property.
Law No. 30 of 2004 on Notary Position (Undang-Undang Jabatan Notaris): Regulates the creation and execution of notarial deeds, which is typically required for trust assignments in Indonesia.
Government Regulation No. 24 of 1997 on Land Registration: If the trust involves immovable property, this regulation governs the registration requirements and procedures.
Law No. 42 of 1999 on Fiduciary Security: Relevant when the trust arrangement involves transfer of ownership rights while maintaining possession of the assets.
Law No. 37 of 2004 on Bankruptcy and Suspension of Debt Payment: Important for understanding the protection and treatment of trust assets in case of bankruptcy.
Bank Indonesia Regulation No. 14/17/PBI/2012: Relevant if the trust involves banking assets or financial institutions as trustees.
Law No. 8 of 2010 on Prevention and Eradication of Money Laundering: Compliance requirements for trust arrangements to prevent money laundering and ensure legitimate asset transfers.
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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