A Licence to Assign a lease of commercial property is treated as a “new” lease for the purposes of the Landlord and Tenant (Covenants) Act 1995.
The licence provides for an optional Authorised Guarantee Agreement (AGA) to be given by the tenant, either on the terms set out in the licence or in a separate document.
The document also contains optional guarantee provisions for use where there is a tenant’s guarantor who is giving a sub-guarantee of the tenant’s obligations in the AGA (GAGA) or a new guarantor for the assignee.
Some landlords are very particular about how or when a leaseholder can assign their lease to another party.
At Lawson West we can advise landlords about how to transfer a leaseholder’s lease to another party and we can advise commercial leaseholders in how they can obtain Licence to Assign from their landlord.
Licence to Assign can be a useful tool for Landowners who own multiple block units, as it streamlines the process of registering a lease assignment with the Land Registry. It can also provide new tenants (assignees) with a secure and publicly verifiable record of their leasehold interest.
Contact Us – our commercial property & real estate team is extremely experienced about commercial leases, lease alterations, extensions and implications.
Clients and contacts tell us what sets our team apart is the personal and professional touch and welcoming approach provided in the provision of legal advice and services within commercial property transactions and client communications. Our broad land and property expertise means you will find us informed, experienced and confident.
The team understand clients’ needs and works tirelessly to meet specific deadlines with an informed and proactive guiding hand. We look forward to helping you.
Great client service is at the centre of our thinking, it’s embodied into how we train and develop our staff, how we help our clients and how we advise and assist people and business owners with their legal needs.
Our Core Values are Welcoming, Confident, Supportive, Knowledgeable and Dependable and we aim for clients to have a positive experience with Lawson West Solicitors.
Evidence of our great client service can be seen in the reviews and testimonials we regularly receive. We are always pleased to receive great reviews because it means our clients are happy with the service we provide, and it shows that we deliver on our core values, we don’t just talk about them. We really welcome client feedback and hope you enjoy reading some of the latest testimonials throughout this website.
