Assignment of Registered Business Lease

Deed of Assignment of Registered Lease (TR1)

PROP.MAN.43

The PROP.MAN.43 - Deed of Assignment of Registered Lease (TR1) is the form prescribed by the Land Registry to transfer a lease from one Tenant (the Assignor) to a new Tenant (the Assignee).

The up to date version of it can be found on the government website by clicking on this link to the relevant page: https://www.gov.uk/government/publications/registered-titles-whole-transfer-tr1 .

The document can be downloaded as a word document or a PDF. Once you have opened the document in your preferred format, you should save a copy to a location of your choice. Simply enter the relevant details in the blank spaces and check the boxes where appropriate. The remainder of the form (including the notes) should not be altered as it is in the Land Registry’s standard format.

The Land Registry has various offices. To find the one that deals with property in the area of the relevant premises please click here .

Land Registry Form TR1 is suitable for a Lease that is registered at the Land Registry with its own title number. In general, this means a lease which was originally granted for a term of more seven years. If the Lease is not registered at the Land Registry you can still use this form but you may prefer to use the Deed of Assignment of Unregistered Lease instead.

Check the terms of the Lease carefully before entering into an assignment. Most Leases place restrictions on a Tenant’s ability to assign the Lease. Usually the Landlord’s consent to the proposed assignment is required. See the Assignment Heads of Terms and the Licence to Assign.

Please note that this Deed of Assignment should not be used for an “old lease”, i.e. a Lease granted prior to 1996.

In panel 1, enter the title number(s) of the property – this information will appear on the official copies of the lease’s registered title.

In panel 2, enter the property address.

In panel 3, enter the date on which the assignment takes place. The date should not be entered until the parties have all signed in panel 12.

In panel 4, enter the Assignor’s name and (if applicable) company number.

In panel 5, enter the Assignee’s name and (if applicable) company number.

In panel 6, enter the Assignee’s address(es) for service. Up to three addresses can be given, one of which must be a postal address. An email address could be given as an alternative service address.

Panel 7 can be left as it is.

In panel 8, check the first box if the Assignee has paid a premium for the assignment, and enter the details in the blank space. Check the second box if no premium is being paid.

In panel 9, check the first box to indicate that full title guarantee is given. This means that the Assignor promises (amongst other things) that the Lease is still in place and has not been breached.

Panel 10 can be left blank unless the Assignee is more than one person (e.g. two individuals or two companies as joint owners).

In panel 11 you may wish to insert the following standard assignment clauses:

11.1 The Property is transferred subject to the following matters:

(a) incumbrances that are discoverable by inspection of the property before the date of this deed;

(b) incumbrances that the Transferor does not and could not reasonably know about;

(c) matters (other than monetary charges or incumbrances) disclosed or which would have been disclosed by the searches and enquiries that a prudent transferee would have made before entering into this deed;

(d) any notice order or proposal given or made (whether before or after the date of this deed) by a body acting on statutory authority;

(e) any matters disclosed in the title documents provided by the Transferor to the Transferee.

11.2 The covenants set out in section 3 and section 4(1)(b) of the Law of Property (Miscellaneous Provisions) Act 1994 Act shall not extend to any breach of the lease relating to the physical state or condition of the Property.

11.3 The parties agree that a person who is not a party to this deed has no right arising solely by virtue of the Contracts (Rights of Third Parties) Act 1999 to enforce any terms of this deed.

In panel 12, insert the appropriate execution clauses, depending on whether the parties are individuals, companies, etc, and delete the clauses that are not required.

When the assignment has been completed (by signing and dating Form TR1), an application must be made to the Land Registry to register the assignment of the Lease. See Form AP1 Application to Register Assignment of Lease.

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