Assignment of leases – differences in perspective

What you need to know

• There are numerous circumstances in which a tenant might to wish to assign its lease to another party, particularly where a tenant has signed up to a long-term lease.
• When such an assignment is contemplated, questions arise about whether or not the landlord's consent will be required and what other obstacles might stand in the way of a tenant's assignment being completed.
• It is prudent for tenants to conduct their lease negotiations with an eye on the possibility that they may wish to seek an assignment of their lease in future, and to carefully consider the steps they need to follow if and when the time comes to pursue an assignment.