This office lease form illustrates the landlord consent in the form of a short letter from the landlord to its tenant, the sublessor.
New Mexico Short Form Landlord Consent - Assignment of Office Lease
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US-OL30042A
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How to fill out Short Form Landlord Consent - Assignment Of Office Lease?
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FAQ
A tenant can make a written request at any time to assign their tenancy to someone else. The request should include the contact details of the person being proposed to take over the tenancy. Alternatively, the landlord can find a replacement tenant, although they don't have to do this if they don't want to.
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.
Notice of Entry ? Landlords must provide tenants with a 24-hour notice before entering the property unless it is an emergency. Disclosures ? In New Mexico, landlords must disclose certain information. This includes if they will charge any nonrefundable fees, shared utilities, and the smoking policy.
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.
Although a landlord is not required to consent to a lease assignment, in some cases your lease will state that a landlord's consent will not be ?unreasonably? withheld. This is more common in commercial leases.
While an assignment divests the assignor of his or her rights in the leased property, unless the landlord consents to the assignment, notice the assignor remains liable to the landlord for rent and any other obligations set forth in the lease agreement.
'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.
When making a request for consent to assign a lease, the Tenant should include all relevant information about the proposed assignee, to enable the Landlord to make a decision. Relevant information is likely to include company details, audited accounts and references.
