Hi Everyone
Your input will be much appreciated on above topic.
I have an office leased to a business. The business has been sold and the new owner wants to take over the lease.
What paper work do I need to produce? What steps do you recommend I should take for this?
The lease is just 5 months into the 2nd option for another 3 years.
Kind regards
Crusader[/font=Tahoma]We have a clause in our Lease where the main Lessee can subjogate a portion of their rights and responsibilities under the Lease, as long as the Assignee fully takes up the load as pertained in the Lease.
The situation you describe however, appears that the main Lessee has gone 100% walkabout and you wish to fully replace the Lessee, not assign a portion of the Lease to a sub-Lessee.
In this case why not just cancel the Lease with the old Lessee, and draw up an identical Lease with the new Lessee on the front and make them sign it. No assignment necessary from what you have described.
Thank You Dazzling for your advice – I will take that on board
Crusader
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