Assignment of Commercial Lease by Tenant

Assign and transfer ownership of the assets of a small business from a seller to a purchaser with this downloadable Assignment of Assets form.

Purpose of Assignment

An assignment of assets would form part of the paperwork involved in the sale of a business. Under this contract, the seller assigns its interest in the business' assets to the purchaser without any set-off.

Key Provisions of Assignment Agreement

• The seller certifies the accuracy of the records and accounts of the business.
• The business assets being assigned will include all of the accounts payable, contracts, leases, inventory, and good will.

Format and Laws

The Assignment of Assets template is provided in MS Word format and is fully customizable. This is a generic legal document which does not contain specific references to the laws of any country or jurisdiction. It can be used almost anywhere.

Prepare a Surrender of Commercial Lease with this downloadable template for a business or retail lease in Canada.

Key Provisions

• The parties agree that the tenant will surrender the premises and the lease will be cancelled and terminated as of a specified date.
• The tenant will pay the landlord a specified amount to terminate the lease, and will forfeit all security and damage deposits paid to the landlord.
• Both the landlord and the tenant agree to honour their obligations until the date of surrender.
• The tenant will remove its trade fixtures and specified leasehold improvements (if possible).

Format and Legal Jurisdiction

This document template is provided in MS Word format and is easy to download, fill in with your details, and print. This form can be used in most Canadian provinces and territories. A French language version may be required for Quebec.

Draw up the terms for purchase of the assets of a Canadian business with this comprehensive Asset Purchase Agreement.

The business is sold as a "going concern", including assets, inventory and goodwill.

Purchase Price of Inventory

The amount of the purchase price allocated to inventory will be adjusted prior to closing based on the actual physical inventory at that time.

Conditional Transaction

The transaction is conditional in part upon the parties completing all of their covenants that must be performed prior to closing.

Schedules Included

Schedules include Definitions, Representations and Warranties of Seller, and a Non-Competition Agreement.

Format and Governing Law

The Asset Purchase Agreement package is available in MS Word format and is fully editable to fit your specific needs. It is governed by Canadian law and is intended for use only in Canada.