Assignment Without Landlord's Consent In Orange
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FAQ
Often an assignment clause is necessary to protect a tenant if there is no option for sublease, if the tenant does not plan to return to the space or to help with rental costs to help tenant avoid being penalized for ending their lease prior to the end of agreement.
With commercial property leases, the vast majority do contain a restriction on assignment. This is generally on the basis that assignment is only permitted with the Landlord's consent given formally, with such consent not to be unreasonably withheld. If the Landlord agrees, a Licence to Assign is drafted by lawyers.
The transfer of a right from one party to another. For example, a party to a contract (the assignor) may, as a general rule and subject to the express terms of a contract, assign its rights under the contract to a third party (the assignee) without the consent of the party against whom those rights are held.
The purpose of a covenant against assignment without the consent of the landlord (not to be unreasonably withheld) is to protect the landlord from having his premises used or occupied in an undesirable way or by an undesirable assignee.
In California, within the Business and Professions Code, Section 1995.260, the landlord cannot unreasonably withhold the consent of the tenant to assign or sublease the property.
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In the law of contract, the term 'waiver' is most commonly used to denote the granting of a concession by one party to a contract by not insisting on the precise performance by the other party of a duty under the contract, whether before or after any breach of the term waived.
Rent Waiver means the agreement reached between the tenant and the Applicant through the Rental Replacement Agreement to allow the tenant to remain at their existing Dwelling Unit or Lodging Unit without paying rent for twelve months and to vacate the Dwelling Unit or Lodging Unit at the end of that period.
