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Leases: Under a lease, in most cases, changes cannot be made unless both landlord and tenant agree to the proposed change or if the lease specifically authorizes the change. The sale of the property does not automatically end a lease or month- to-month rental agreement.
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.
Can the Landlord refuse consent? If the lease is silent on assignments, the tenant is free to assign without the landlords consent.
On assignment, the assignors legal interest in a property is passed to the assignee who takes over that interest and becomes the tenant. All the terms of the original tenancy agreement apply to both the new tenant and the landlord, including the amount of rent payable.
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