Deed of assignment of lease

by Practical Law Property

A deed for the assignment of an unregistered commercial leasehold property in England and Wales. This Standard Document sets out the essential terms between an assignor and an assignee, facilitating the transfer of the remainder of the lease term. It addresses key considerations such as the provision of a full or limited title guarantee, with specific modifications to the covenants implied by the Law of Property (Miscellaneous Provisions) Act 1994 (LPMPA 1994). The framework includes an indemnity covenant from the assignee to protect the assignor against future breaches of the lease obligations. It contains optional provisions for scenarios where the lease is continuing under the Landlord and Tenant Act 1954 (LTA 1954), including the assignment of court proceedings for a renewal tenancy. It also covers arrangements for any premium, costs, and Value Added Tax (VAT), providing a solid foundation for negotiating and finalising a leasehold assignment. For a suite of practice notes on lease assignments dealing with the transaction from the perspective of the assignee, see Lease assignment toolkit.