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ADVICE: Lease assignments and transfers
Trending: In a typical commercial lease transaction, it is uncommon for the tenant to expect or anticipate having changes in business that would require action prior to their lease expiring, however it is more common than most business people would think.
There are many reasons why a tenant wants to sublease or assign their lease such as the opportunity to sell the business, business owner wanting to retire, or because of struggles with the business and things not working out as planned or…More at https://www.pe.com
How to Sell a Business with a Lease
Marketplace by Armin Laidre When a business is being sold, buyers often associate the real estate as part of the business. But in many cases, the seller does not actually own the commercial building in which they run their business from.
They likely have a commercial lease agreement established with the true owner of the building. This means when the business is sold, the seller will need to create a lease assignment which transfers their…More at http://exitadviser.com
The Right to Assign or Sublet a Commercial Lease
Over the past several years as businesses struggle to ride out the tough economic times, they have had no choice but to downsize. Tied to commercial leases for more office or retail space than they need, an assignment of the lease or the subletting of the extra space seems like an attractive way of saving on expenses.
In making the decision whether to assign or sublet, the tenant should first carefully…More at http://www.kaplaw.com
Transferring a business lease to someone else – getting the Landlord’s consent
Tenants of commercial premises who want to dispose of their premises will have to obtain their landlords’ consent if they want to transfer (or ‘assign’) the lease to someone else. This also applies to under-letting or sub-letting. Some leases contain an absolute bar on assignment, underletting or sub-letting.
In this case the landlord may still be prepared to give consent but is entitled to refuse it. Obtaining landlord’s consent may seem a simple matter but it can never be regarded as …More at http://www.fridaysmove.com
What Is The Difference Between An Assignment And A Sublease?
Knowing the difference between assigned lease, sublease
Commercial leases typically restrict these options and, at a minimum, require the landlord’s consent to the assignment or sublease. Tenants need to plan ahead by negotiating as much flexibility as possible in the assignment and subleasing clauses of their leases….More at https://www.bizjournals.com
Assignments and Subleases: The Basics
Author(s) Michael B. Noble, Ann Peldo Cargile I. INTRODUCTION. Assignments and subleases are commonplace. The difference between the two is a product of common law. Without a thorough understanding of the differing rights among landlords, tenants and transferees resulting from assignments and subleases, parties may find themselves unpleasantly…More at https://www.bradley.com
What is the Difference between Sublease and an Assignment of a lease?
In today’s ever changing business environment and the constant change of business needs to operate and expand or minimize work space, a company should closely observe its business plan and negotiate flexible terms when negotiating a lease. Despite of all of the preparation and negotiation, business may unexpectedly increase or for any reason business may drastically decrease…More at http://elkhalillaw.com
What Is An Assignment Of A Lease?
Assignment Of Lease: A Brief Look – Caversham Solicitors
What is an Assignment? Simply put, it is a transfer of an existing lease by the current tenant to a new tenant with the consent of the landlord. Let’s see how this works in practice. To begin with, there should be an existing lease between a landlord and tenant. And the Assignee. The Assignee is the crucial factor that makes Assignment work. He or it is the newcomer to whom the existing lease will be assigned or passed or transferred to.
Why does an assignment take place? It happens for…More at http://www.cavershamsolicitors.co.uk
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