Transfer of Lease / Property Buyer Change

In order to properly transfer both rights and obligations under a contract – eg, the rights and obligations of the tenant under a lease – a mere “assignment” is not sufficient: an assignment can transfer rights, but not obligations.

To fully replace a party to a lease or other contract, it is necessary to enter into a tripartite agreement called a “Deed of Novation”, pursuant to which the incoming parties step into the place of the leaving parties, taking over not only their rights/benefits but also the burden of their obligations.

This creates a direct contractual relationship between the continuing parties (eg, the continuing lessors) and the incoming parties (eg, the new lessees).

Novations can be complex to document, especially where there are multiple continuing/leaving/incoming parties.

Additionally, there may be guarantors that need to be replaced or released, or new guarantors to be added.

If done manually, this can be very fiddly and time-consuming.

Test your knowledge and get a discount for this document: take the quiz.

Enter the code WHen you pay full price to Purchase one of the following Self Service documents:

No items found.

Re-Enter the code at checkout each time you buy the following documents to get a discount:

No items found.

Create this legal Document

Most Popular

Self Service

Create the document instantly yourself by entering the key details.

A$

715

Lawyer Assisted

Create the document yourself with 30 mins help from a lawyer.

Create the legal document yourself with 2 hours help from a lawyer.

A$

1,650

Full Service

We create a bespoke document based on
your instructions.

From:

A$

1,650

Please turn your device to landscape mode to begin creating your document.

Please turn your device to landscape mode to begin creating your document.

Thank you! Your message has been received!
Oops! Please check your details and try again.
Thank you! Your submission has been received!
Oops! Please check your details and try again.