Assignment of a lease – Singapore property for rent/ sale
Assignment of a lease refers to a take over of an existing lease by another party without having to ask for consent or agreement of the third party. For example, the owner, Owner A, of a property lease the property to a tenant, Tenant B. Owner A then sells his property to a new owner, Owner C, subject to tenancy. Singapore property for rent/ sale.On completion, the new Owner C takes over the tenancy and is now the new landlord. Owner A has therefore assigned the lease to the new Owner B without having to seek for the consent or agreement of the third party, Tenant B. Singapore property for rent/ sale.
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