Business Lease Advice

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Alienation

This means disposing of a lease whether by assignment (selling it) or sub-letting and will only be allowed if it is specifically provided for in the Lease. It is therefore essential that the terms on which you may be permitted to dispose of a lease are expressly negotiated.

The buyer or under tenant will need to be acceptable to the Landlord. Most modern leases make the original tenant responsible for the failure of a subsequent tenant to meet the obligations in the Lease.

The original tenant will in any event remain liable to the landlord for payments and obligations when the lease is sub-let rather than assigned.

For advice as to how to limit your exposure contact us for a free initial legal consultation.