Is stamping required and is stamp duty payable if an incoming tenant will assume the remaining lease period from the outgoing tenant?
Stamping is not required, and stamp duty is not payable if there is a Novation agreement, provided that:
1. The incoming tenant takes over the remaining lease period from the outgoing tenant, with no change in the lease terms and monthly rent.
2. There is no consideration between the parties.
Related questions
Is stamping required and stamp duty payable when a new tenant takes over the remaining lease period from an outgoing tenant, with a 1.5-month extension but no consideration paid.
Is re-stamping required when a new tenant replaces the original tenant, with all other terms, conditions, and rent remaining unchanged?
Is re-stamping required when adding a new tenant to an already stamped lease agreement?
If stamp duty has been paid on a tenancy agreement for the whole property, is stamping still required when subleasing one of the rooms?
Need more help?
Get in touch