Hi,
An assignment is a transfer of lease from you, the existing registered lessee (assignor) to another party (assignee).
Eligibility for assignment
Generally, you may assign your land lease, if:
1. Your lease is not within the Assignment Prohibition Period
2. The Assignment Prohibition Period is the duration in which you are not allowed to re-assign your lease after the last assignment. The Assignment Prohibition Period is 5 years if your remaining lease is 30 years and less; or 10 years if your remaining lease is more than 30 years
3. Your remaining lease term is more than 5 years, except for leases of land-based factories in Defu Industrial Estate
4. You have made a written offer to us first if your lease agreement contains the Right of First Refusal clause
5. There may be other reasons when the assignment is disallowed. Please contact the HDB for a pre-consultation.
You may learn more here: https://www.hdb.gov.sg/cs/Satellite?c=Page&cid=1383802439743&d=Touch&pagename=InfoWEB%2FPage%2FArticleDetailPage
Hope this helps.
www.omh.sg
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