General Assignment with Acceptance (India) by OLL
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GENERAL ASSIGNMENT WITH ACCEPTANCE
(BY ENDORSEMENT)
KNOW ALL MEN BY THESE PRESENTS that, I, AA., aged about _________ years,
Son of ___________________________,
Resident of ______________________, in consideration of Rupees _________ .
(Rs _________________________________________) only, receipt whereof I do hereby acknowledge, assign and transfer to Shri B.C., aged about _________ years,
Son of ___________________________,
Resident of ______________________, all my rights, title and interest in and to the within and foregoing agreement, subject to all the terms and conditions thereof and do hereby demise, release and relinquish unto the said B.C. all my rights, title and interest in and to the property within described and agreed to be assigned.
Dated, signed and executed at _________.this the _________ day of _________ in the year _________
Witness:
Assignor.
I, B.C., the above-named do hereby accept the foregoing assignment subject to all the terms and conditions thereof.
Witness:
Assignee.
Note.—
This instrument falls under Article 23 or 62 of Schedule I of the Indian Stamp Act, 1899, depending on the property assigned.
A straightforward legal template for the transfer of rights and interests in a specific agreement or property from one party to another. It includes an acceptance clause to be signed by the recipient, ensuring both parties agree to the existing terms and conditions.
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About this template
What is this template?
A short-form deed used to transfer contract and property rights from one person to another. It includes a specific acceptance clause for the Assignee and is not a stand-alone sale deed for real estate without the underlying agreement.
When should you use it?
Use this when you need to hand over your position in an existing contract to someone else in India, rather than using a Novation Agreement which would require the original counterparty's signature.
What's inside
| Clause | Name | What it does |
|---|---|---|
| Paragraph 1 | Consideration | The Assignor acknowledges receipt of a payment in Rupees before transferring the rights to the Assignee. |
| Paragraph 1 | Assignment and Transfer | The Assignor transfers all rights, title, and interest in the referenced agreement and described property to the Assignee. |
| Final Paragraph | Acceptance | The Assignee formally accepts the assignment and agrees to be bound by all original terms and conditions. |
Who it's for
- an individual in India transferring rights under an existing contract to a third party
- parties performing an assignment of property rights via endorsement on an original agreement
How long it runs and how it's signed
Law it's drafted under
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