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.

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Accepted Answer

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.

However, as there is an extension of lease, stamping will be required on the novation agreement and stamp duty is payable.

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.

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