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Can a commercial lease be transferred?

In order to transfer a commercial lease, you will likely need to obtain the landlords permission. Failing this, you might be liable to face financial penalties. An assignment of a commercial lease is not always permitted by the landlord.

What happens to a commercial lease when the landlord sells the property Ontario?

If the landlord sells the property before the end of lease then he or she must ensure that the buyer agrees to continue the existing rental agreement. The buyer, as a new landlord, must then comply with the agreement and cannot unlawfully force the tenant out before the end of the lease.

Can I sell my business lease UK?

A leasehold business can be sold, however, to ensure that the commercial lease survives the business sale, you must meet landlord expectations and respect any restrictions set out in the tenancy agreement to allow for the successful assignment of the commercial lease.

Do you need to register an assignment of lease?

It is almost always compulsory to register the transfer of a registered lease, irrespective of the length of the lease term. Until the registration requirements are met, the transfer does not operate at law and the buyers title is merely equitable.

Can a landlord refuse to assign a commercial lease?

Most commercial leases will include a provision which prohibits assignment without the landlords consent, and will prescribe the process the tenant needs to go through to secure this. What some landlords do not realise is that they can only refuse consent if they have very good reasons.

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