Assignment of Lease
Assignment or Transfer of lease refers to the transfer of estates, rights, title and interests in the property from you, the “Assignor or Transferor” (seller) to the “Assignee or Transferee” (buyer).
Generally, this can be classified into the following categories:
- Outright sale of factory premises plus leasehold improvements to a prospective buyer
- Corporate restructuring and/or assignment or transfer of lease of property to a related or joint-venture company where there is shareholding relationship between the assignor or transferor company and the assignee or transferee company.
- Inclusion or withdrawal of partners within firm (Applicable for sole-proprietorship or partnership only)
- Conversion of legal entities from sole-proprietorship or partnership to private limited company and vice-versa
- Taking over of business as an ongoing concern, this involves a transfer of the manufacturing facilities, plant and machinery, and staff. The buyer will assume all business interests formerly undertaken by the seller. There is essentially no change in the existing approved site activities.