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What does assignment of leases mean?

An assignment is when the tenant transfers their lease interest to a new tenant using a Lease Assignment. The assignee takes the assignors place in the landlord-tenant relationship, although the assignor may remain liable for damages, missed rent payments, and other lease violations.

Who must provide consent when a tenant assigns his/her lease?

Most negotiated leases will instead contain a provision requiring that landlords consent to an assignment is required, but such consent will not be unreasonably withheld. The tenant will likely also try to include landlords obligation to not unreasonably delay or condition its consent.

Can a tenant assign a lease without consent?

Can the Landlord refuse consent? If the lease is silent on assignments, the tenant is free to assign without the landlords consent.

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.

What is a reassignment of a lease?

Simply put, it is a transfer of an existing lease by the current tenant to a new tenant with the consent of the landlord.

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