Assignments and Consents
If you are a Tenant seeking to assign your lease to someone else, of you are planning on taking on an assignment, you need to make sure that any assignment is carried out in accordance with the lease terms, and be aware as to the Tenant Covenants contained in the lease. .
The covenants and obligations of both the landlord and tenant also have to be considered on assignment. Depending on the age of the lease, there are different rules as to how these obligations are transferred. An outgoing tenant may find that they are still liable for the tenant’s covenants under a lease, even after they have assigned the lease to someone else.
If you are considering making or taking an assignment, or if you are a landlord who has been contacted with a request to grant consent, you should seek legal advice regarding your obligations under the lease.
Our experienced team can guide you in your transaction, whether you are landlord, tenant or assignee.
For more information or advice about Assignments and Consents, please contact us today.