This office lease form contains a contractual right in the transfer clause for the landlord to withhold its consent for specific situations not usually prohibited under the reasonableness standard. The tenant shall neither assign the lease nor sublet all or a portion of the demised premises without the landlord's prior written consent. This form outlines the specific situation where the landlord may withhold such consent.
Kentucky Transfer Clause Containing a contractual Right for the Landlord to Withhold Consent
State:
Multi-State
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US-OL21013
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Word;
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How to fill out Transfer Clause Containing A Contractual Right For The Landlord To Withhold Consent?
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FAQ
The original tenant cannot assign more rights than it has under the original lease. For example, if the term of the lease is 1 year, the term of the assignment cannot be 2 years. Most leases will require the landlord's written consent before an assignment becomes effective.
Tenant Rights to Withhold Rent in Kentucky Tenants may withhold rent or exercise the right to "repair and deduct" if a landlord fails to take care of important repairs, such as a broken heater.
The landlord is generally required to give what's called ?reasonable consent? when deciding whether to allow a tenant to assign a lease or find a new tenant to sublease the property. The landlord must decide whether to approve a new tenant for lease assignment within a specific time period, as stipulated in the lease.
The phrase is typically used in assignment clauses: No Party may assign rights or obligations of this Agreement without the consent of the other Party, which consent shall not unreasonably be withheld or delayed.
An assignment clause is defined as a contract clause that determines whether the transfer of rights or obligations for all or part of a leased space can be re-assigned from the original lessee to a third party, and under what conditions such an action could take place.
'Assigning' a lease simply means transferring your lease to another person so that they become the new tenant. Once the assignment has taken place the lease continues to exist and the new tenant becomes liable for all of the tenant's obligations in the lease.
Landlords may only enter at reasonable times. Landlords must give notice for maintenance and repairs. Landlords must give notice to enter the property for showings. Landlords may enter without notice due to an emergency situations.
Most negotiated leases will instead contain a provision requiring that landlord's consent to an assignment is required, but such consent will not be unreasonably withheld. The tenant will likely also try to include landlord's obligation to not unreasonably delay or condition its consent.
