Licence To Assign Old Commercial Property Lease
Publisher one
ƵSource file
Jurisdiction
England and WalesCost
Free to useRelevant sectors
Type of legal document
🏡 Licence to assignBusiness activity
Assign a leaseA licence to assign is a legal document that allows the holder of a property to transfer their interest in the property to another person. The licence to assign must be in writing and signed by both parties.
As per UK law, tenants may sometimes wish to transfer their lease obligations and rights to another individual or entity. However, the lease agreement may include provisions that require obtaining the landlord's consent, which is typically granted through a license to assign. This license outlines the terms and conditions that must be met and provides the landlord with an opportunity to review and evaluate the proposed assignee's suitability for the lease agreement.
The template contains clauses addressing various aspects of the assignment process, such as the requirements for the application to assign the lease, the conditions to be complied with by the assignee, the landlord's evaluation and approval process, any associated fees, and the granting of the license itself.
Additionally, the document may include provisions for the assignee to agree to indemnify the landlord against any potential claims or liabilities arising from the assignment. It may also address matters related to the original tenant's release from obligations upon the approval of the license to assign.
This legal template provides a starting point for both tenants and landlords involved in the assignment process, offering a structured framework that can be customized to reflect the specific requirements and provisions of the applicable lease agreement.
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