Assignment of House Rent Arrears (India) by OLL
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ASSIGNMENT OF HOUSE RENT ARREARS
THIS ASSIGNMENT _________ (as in Form No. 1).
Whereas
AA. is the owner/landlord of house ___________________________________________.(give full description of the house, its boundaries and No. if any, along with its situation in Mohalla __________________________________________), And MN. is the tenant from month to month under a lease or rent note dated _______________ and is in occupation of the said house at a monthly rent of Rs _________ payable on _________ day of every month.
Whereas the said
BB. has not paid the rent of the said house for a period commencing from ______________and ending on _________in spite of repeated demands and a written notice dated _____________The amount of the past rent due comes to Rs ______________
NOW THIS DEED WITNESSES AS FOLLOWS:
In consideration of Rs______________ paid by the said Assignee BB. (the receipt of which is hereby acknowledged) the Assignor AA. hereby assigns to the said Assignee BB. the right to recover Rs______________due as arrears of rent from the said tenant MN. The said Assignee has and shall have all the rights to recover the said arrears of rent with interest and appropriate the same to his use.
IN WITNESS WHEREOF ______________________
Sd.
This template is used for the legal transfer of unpaid rent debts from a landlord to another party. It allows the new owner of the debt to legally pursue the tenant for the outstanding balance, including any applicable interest.
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About this template
What is this template?
This is a deed of assignment for a debt specifically arising from residential rent arrears. It is not a property transfer deed or a new lease agreement, but a transfer of a chose in action.
When should you use it?
Use this when an owner wants to sell or transfer the right to collect past-due rent to another person, rather than using a Power of Attorney or a Debt Collection Agreement.
What's inside
| Clause | Name | What it does |
|---|---|---|
| Whereas | Recitals of Ownership and Tenancy | Identifies the Assignor as the owner of the described house and MN as the tenant under a specific rent note. |
| Whereas | Statement of Arrears | Confirms the tenant has not paid rent for a period ending on a specified date despite a written notice. |
| NOW THIS DEED WITNESSES | Assignment of Debt | Transfers the right to recover a specific sum of arrears from the tenant to Assignee BB for a consideration. |
| NOW THIS DEED WITNESSES | Rights of Recovery | Grants the Assignee all legal rights to recover the stated arrears with interest for their own use. |
Who it's for
- a landlord in India transferring the right to collect unpaid rent to a third-party assignee
- an assignee purchasing the debt of house rent arrears from a residential property owner
How long it runs and how it's signed
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