Assume Lease Agreement

Your lease agreement may include a terminated and ongoing liability clause. If this is not the case, the lessor usually decides whether the assignee is liable for damages or other breaches of the lease caused by the assignee (or the clients, customers or clients of the assignee). If you have to leave a property before your lease is concluded, a lease allows the tenant to transfer the lease to another person called an “agent.” This process must be approved by the owner. Note that a lease does not exempt the original tenant who transferred the lease to the assignee from his contractual obligations arising from the original lease. Instead, the original tenant is responsible, along with the agent, for the terms of the tenancy agreement. For example, if the assignee does not pay the rent or if the property is damaged, the landlord can sue the original tenant and the agent to recover the damages or funds due. A lease agreement is often used when the current tenant moves permanently and has no intention of returning to the property. If the tenant plans to be temporarily removed from the property and return for the duration of the tenancy, a sublease agreement may be used instead. Other names for this document: Leasing contract If a tenant wishes to enter into a non-rental lease, one of the legal possibilities is to transfer or transfer the lease to another person. If z.B a person signs a commercial lease for 12 months and the company no longer works after 10 months, that person can still decide not to pay the remaining 2 months by assigning the lease.

The document certifying the transfer (from the original tenant to the incoming client) is called “lease assignment.” Depending on the tenancy agreement, different requirements may be met before the original tenant can be exempted from any tenancy obligation. Most importantly, in most cases, the lessor must consent to the transfer of the lease through a document called the “Transfer License.” It is important to have this form signed before moving on to the next steps of the “rental” or the owner may refuse permission for the transfer. Other circumstances that may allow the lessor to refuse to give consent are usually under the heading “Alienation” of the lease.