Deed of assignment of rent deposit(s)
A standard document for the assignment of a landlord's interest in one or more rent deposit deeds upon the sale of a property's reversionary interest. This deed facilitates the transfer of all rights and benefits held by the seller under the rent deposit deeds to the buyer, including the benefit of any security. This standard document provides for the transfer of the deposit balances to the buyer's new accounts and contains key covenants, including an indemnity from the buyer to protect the seller against future liabilities arising from the landlord's obligations. It addresses the complexities of assigning rent deposits, considering factors such as whether leases are governed by the Landlord and Tenant (Covenants) Act 1995 (LTCA 1995) and how the deposit monies are held. The deed also includes provisions for the buyer to covenant directly with the tenants and for notifying tenants of the assignment, offering a structured approach to managing rent deposits during a commercial property transaction.
Already a Practical Law customer? Sign in
Get access to this document with Practical Law
The value of Practical Law
Deliver results and stay ahead with the help of Practical Law's built-in network of legal experts
As a legal professional, your time is a precious resource. Whether you need insights on a market-leading precedent, help navigating a new topic, how-to guidance on the law with an integrated drafting note, or a checklist to help mitigate risk, you can rely on Practical Law.
Practical Law is the only legal know-how solution supported by a team of over 650 full-time global editors who obsessively monitor the law and create resources to help you navigate the unknown and practise more efficiently.
Learn more about Practical Law
Make the most of your time and resources
Jumpstart your work
Easy-to-use tools deliver a great starting point, so you spend less time searching for templates, building presentations, or delving into unfamiliar areas.
Get how-to guidance
Practical resources provide you with in-depth expert knowledge and insights to help you work more efficiently and make informed decisions confidently.
Rely on worldwide expertise
We offer global and comparative content with thousands of assets covering critical legal topics in more than 100 countries, including weekly updates and daily alerts for EU Law.