If you are selling or purchasing a business and the business is
operated at a premises under a lease, the transaction would
necessarily include assignment of the lease (also known as transfer
of lease) from the seller (being the assignor) to the purchaser
(being the assignee).
As a seller, it is important to revisit the terms of the
existing lease of the premises to identify whether the lease can be
assigned and the terms and conditions relating to the assignment of
the lease.
Typically, the seller is not permitted to assign the lease
except with the landlord's consent and there are requirements
that must be complied with before the landlord's consent will
be granted, including but not limited to the following:
