Arbitral Award for Assignment of a Lease (India)
This document is a template for an arbitral award directing the assignment of a lease from a current lessee to a purchaser. It specifies the financial considerations, the execution of the assignment deed, and the responsibility for outstanding rent and taxes.
Arbitral award of assignment of lease
I AWARD and direct that in consideration of Rs. _____________ heretofore paid by the said [purchaser] to the said [lessee] and of Rs. __________ hereby directed to be paid by the said [purchaser] to the said [lessee] upon the execution of the deed of assignment hereinafter mentioned the said [lessee] shall as beneficial owner [or trustee or mortgagee] on the _____ day of _____________ at the office of ____________ the solicitor for the said [purchaser] execute a valid deed of assignment to the said [purchaser] of all his right title and interest in the unexpired residue of a term of _______ years granted by a lease dated the ______ day of _________ by [landlord] to the said [lessee] of certain premises heretofore occupied by the said [lessee] and [other occupier] as a shop and warehouse situate and being at [place] subject nevertheless to the rent covenants and conditions by and in the said lease reserved and contained. And I further award and direct that the said [purchaser] shall pay and satisfy all arrears of rent and taxes which have arisen accrued or become due for or on account of the said premises since the __________ day of ______.
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About this template
What is this template?
This is a formal legal instrument issued by an arbitrator, not a contract between the disputing parties. It contains the tribunal's findings of fact and the specific relief granted under the Arbitration and Conciliation Act 1996.
When should you use it?
Use this when a dispute over a lease assignment has concluded through arbitration and requires a binding written decision. Use a Lease Assignment Agreement if the parties are in consensus and no dispute exists.
What's inside
| Clause | Name | What it does |
|---|---|---|
| Introduction | Recitals and Background | Lists the parties involved in the lease assignment and describes the nature of the dispute referred to arbitration. |
| Final Order | The Award | Specifies the final decision of the arbitrator regarding the validity or enforcement of the lease assignment. |
| Costs | Costs and Interest | Determines which party is liable for the arbitration fees and any interest payable on awarded sums. |
Who it's for
- an arbitrator issuing a final decision on a lease assignment dispute in India
- parties involved in Indian arbitration proceedings regarding commercial property transfers
How long it runs and how it's signed
Law it's drafted under
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