assign the lease

assign the lease
When a tenant assigns a lease he usually needs to obtain the landlord's prior written consent or licence to so. The landlord is likely to ask for references, accounts and so forth, to establish whether the assignee will be a good and creditworthy tenant. The licence does not absolve the existing tenant from his continuing liability to the landlord under the lease if the new tenant defaults. If the new tenant has a strong covenant, the landlord may be willing to discharge the existing tenant's continuing liability. In any event, the landlord will charge the tenant for his legal and other expenses in considering and granting a licence.

Easyform Glossary of Law Terms. — UK law terms.

Игры ⚽ Поможем написать реферат

Look at other dictionaries:

  • assign — as·sign 1 /ə sīn/ vt 1: to transfer (property or rights) to another the general practice by inventors of assign ing patent rights J. K. Owens 2: to appoint to a post or duty assign ed to represent the defendant …   Law dictionary

  • assign — To make an option seller perform his obligation to assume a short futures position (as a seller of a call option) or a long futures position (as a seller of a put option). Chicago Board of Trade glossary * * * assign as‧sign [əˈsaɪn] verb… …   Financial and business terms

  • Lease — A lease is a legal document, but can be an oral arrangement, which confers a right on one person (called a tenant or ) to possess property belonging to another person (called a landlord or lessor) to the exclusion of the owner landlord. The… …   Wikipedia

  • Equipment lease assignment — Equipment Lease Agreements typically contain language prohibiting the Lessee from assigning the lease to a third party. For example, YOU HAVE NO RIGHT TO SELL, TRANSFER, ASSIGN, SUBLEASE, OR ENCUMBER THE EQUIPMENT OR THIS AGREEMENT protects the… …   Wikipedia

  • Minimum Lease Payments — The lowest amount that a lessee can expect to make on a lease over its lifetime. Accountants calculate minimum lease payments in order to assign a present value to a lease. The method of calculating minimum lease payments is laid out in the… …   Investment dictionary

  • Territories of the United States — This article is about the individual political entities currently or formerly called United States territories . For the various forms of the jurisdiction of the United States, see United States territory. Political divisions of the United States …   Wikipedia

  • Society for the Propagation of the Gospel in Foreign Parts — USPG (The United Society for the Propagation of the Gospel), formed with the original name of the Society for the Propagation of the Gospel in Foreign Parts (SPG) in 1701, as an Anglican missionary organisation. Its aims are to enable people to… …   Wikipedia

  • Preamble to the United States Constitution — We the People redirects here. For other uses, see We the People (disambiguation). United States of America This artic …   Wikipedia

  • Robert Lauder of The Bass — Sir Robert Lauder of The Bass, (born before 1440 died just before February 1508) was a Scottish knight, armiger, and Governor of the Castle at Berwick upon Tweed. He was also a member of the old Scottish Parliament. [Young, James, editor,… …   Wikipedia

  • Rescue and recovery effort after the September 11 attacks — The area surrounding the World Trade Center became the site of the greatest number of casualties and missing, due to a single incident, in the history of the United States. This region became known in the ensuing days as ground zero .Building… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”