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The process of assignment of a lease is essentially selling the lease to a third party (the “assignee”). If you are a commercial property tenant, your contract likely contains a clause that allows you to assign your lease to a new tenant. To do this, you will need to find a potential new tenant yourself.

Assigning a commercial lease means transferring the lease from one tenant to another. The rights and obligations under the lease will be transferred from the outgoing tenant to the incoming tenant.

A deed of assignment of lease used for the assignment of a tenant's leasehold estate under a commercial or retail lease to a third party with the consent of the landlord.

Now, when the tenant decides to assign the lease to a third-party, the third-party is known as the assignee. The assignee takes on the responsibilities laid under the original lease agreement between the assignor and the landlord.

What is the Assignment Clause and When is it Triggered? Every commercial lease contains an assignment provision that lays out the landlord's and the tenant's rights and obligations in the event that the tenant seeks to “assign” the lease.

Assumption is like an Assignment except the seller is released from all liability under the terms of the lease. This is rare and it almost never happens. Sublease is where possession is transferred to the buyer (subleasee) with the seller retaining all the same rights as though he/she were the tenant.

An Assignment and Subletting clause defines the tenant's rights with respect to transfers of the tenant's interest in the leased premises. At its core, an assignment and sublet clause provides answers to the following questions: Can the tenant transfer the tenant's interest in the premises?

Once the landlord's consent has been obtained, the tenant and assignee can enter into a deed of assignment to transfer the lease to the assignee. If the lease is registered at the Land Registry the assignee will then need to register the assignment at the Land Registry.

The process of assignment of a lease is essentially selling the lease to a third party (the “assignee”). If you are a commercial property tenant, your contract likely contains a clause that allows you to assign your lease to a new tenant. To do this, you will need to find a potential new tenant yourself.

Assigning a commercial lease means transferring the lease from one tenant to another. The rights and obligations under the lease will be transferred from the outgoing tenant to the incoming tenant.

A deed of assignment of lease used for the assignment of a tenant's leasehold estate under a commercial or retail lease to a third party with the consent of the landlord.

Now, when the tenant decides to assign the lease to a third-party, the third-party is known as the assignee. The assignee takes on the responsibilities laid under the original lease agreement between the assignor and the landlord.

What is the Assignment Clause and When is it Triggered? Every commercial lease contains an assignment provision that lays out the landlord's and the tenant's rights and obligations in the event that the tenant seeks to “assign” the lease.

Assumption is like an Assignment except the seller is released from all liability under the terms of the lease. This is rare and it almost never happens. Sublease is where possession is transferred to the buyer (subleasee) with the seller retaining all the same rights as though he/she were the tenant.

An Assignment and Subletting clause defines the tenant's rights with respect to transfers of the tenant's interest in the leased premises. At its core, an assignment and sublet clause provides answers to the following questions: Can the tenant transfer the tenant's interest in the premises?

Once the landlord's consent has been obtained, the tenant and assignee can enter into a deed of assignment to transfer the lease to the assignee. If the lease is registered at the Land Registry the assignee will then need to register the assignment at the Land Registry.