Assignment of a Lease (India)
This template is used for the transfer of an existing lease from a current tenant to a new tenant, specifically for use in India. It includes provisions for the landlord to provide their formal consent to the transfer and establishes an indemnity for the outgoing tenant against future claims.
ASSIGNMENT OF LEASE
Assignment of lease by endorsement where the landlord is
made a party to give his consent to the assignment.
This assignment made this ______________ day of _________, 20 _________, between the within-named BB. (hereinafter called ‘‘the Lessee’’) of the first part, the within named AA. (‘‘Lessor’’) of the second part, and CC, son of _______________________, of ____________________________ (hereinafter called, resident ‘‘the Assignee’’ which expression where the context so admits shall mean and include his heirs, executors, administrators, representatives and assigns) of the third part: Witnesses that in consideration of the sum of Rupees ____________ now paid by the purchaser to the vendor (the receipt of which sum the Lessee hereby acknowledges) the Lessee hereby assigns unto the Assignee all and singular the premises comprised in and demised by the within written Lease with all the appurtenances. To hold unto the Assignee the premises hereby assigned for the residue now unexpired portion of the term of _________ years expressed to be demised by the within written Lease, subject nevertheless to the payment of the rent and to the performance of the terms and covenants contained in the within written Lease and on the part of the Lessee to be observed and performed:
And the Assignee hereby covenants with the Lessee that the Assignee shall henceforth pay the said yearly rent of ______________ rupees reserved by the within-written Lease, and henceforth to become payable, and observe and perform all and singular the terms and covenants therein contained and on the part of the Lessee to be observed and performed:
And the Assignee also covenants that he shall, from time to time, and at all times hereafter, keep indemnified the Lessee, his estate and effects from and against all suits, proceedings, costs, claims and damages whatsoever, on account of the non-payment of the said rent or any part thereof, or any breach, or non-observance of the aforesaid terms and covenants or any part thereof.
‘‘In witness’’ clause as in Form No. 1
(Signed) BB.
In the presence of _________, son of _________of _________
(Signed) AA.
In the presence of _________, son of _________ of _________
(Signed) CC.
In the presence of _________, son of _________ of _________
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