Assignment Of The Lease

Assignment Of The Lease-61
Although you remain liable after an assignment, landlords will normally release any personal guarantees or bank guarantees that may have been provided by you, provided that the new tenant offers equivalent replacement guarantees.

Almost always, the landlord who gives the usufruct tenant an assignment right reserves the landlord’s right to give its consent to any proposed assignment of a usufruct lease.

Legal Expenses With an assignment, the landlord will expect its legal expenses in connection with the assignment to be reimbursed.

You may be able to negotiate for the subtenant to pay all or some of the landlord’s legal expenses and your legal expenses.

Some leases contain provisions which require the landlord’s consent for a transfer of all or a majority of shares in the tenant company, as if the transfer was an assignment of the lease.

If your lease does not contain these provisions, the consent of the landlord will not be required.

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