Lease Option Assignment Template for Philippines

1. Security Deposit Transfer: Terms for transferring any existing security deposit, used when there is a security deposit under the original lease

2. Broker Provisions: Details of any broker involvement and commissions, included when brokers are involved in the assignment

3. Option Exercise Terms: Specific provisions about how and when the option can be exercised, included when the original option terms need modification

4. Due Diligence: Provisions for the assignee's investigation period, included when the assignee requires time to verify property condition or documents

5. Indemnification: Mutual or one-way indemnification provisions, included when additional protection is needed

6. Notice Requirements: Detailed notice procedures, included when specific communication protocols are needed

7. Assignment Conditions: Any specific conditions that must be met before the assignment becomes effective, included when there are prerequisites to assignment

1. Schedule A - Property Description: Detailed legal description of the property including boundaries, certificates of title, and any relevant surveys

2. Schedule B - Original Lease Option Agreement: Copy of the complete original lease option agreement being assigned

3. Schedule C - Payment Schedule: Details of any remaining payments under the lease option and assignment payment terms

4. Schedule D - Consent Documentation: Written consent from the original lessor and any other required parties

5. Schedule E - Property Condition Report: Current condition of the property if relevant to the assignment

6. Schedule F - Outstanding Obligations: List of any outstanding obligations under the original lease option

7. Appendix 1 - Required Notices: Copies of any required notices given to relevant parties regarding the assignment