Licences to Assign, Alter, or Underlet for Commercial Leases
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A Commercial Lease is the agreement between a property owner (“landlord”) and property user (“tenant”) about the user’s occupancy of commercial premises. Lease documents are usually long and complex – and give rise to related legal issues we have experience of handling.
Leases normally require the existing tenant to obtain written permission (“licence”) from the landlord in order to do any of:
1. enter into or exit by transferring to a new tenant
4. use the lease as security
5. make physical changes
Doing any of these things without the necessary permission may invalidate the lease, and could cause the lease itself to be forfeited, i.e. ending the tenant’s right to possess the property.
Landlords will frequently expect tenants to pay the landlord’s legal costs of giving a licence – i.e. as well as the tenant also paying their own legal costs.
We do not actually negotiate the licence terms – we expect those to have been agreed in principle before our involvement; included in this service is communicating with the landlord and tenant about the licence agreed, then drafting and finalising that licence. If the licence is for some other legal transaction, such as an assignment or mortgage, our fee for dealing with the licence doesn’t also cover the other transaction – fixed fees for those transactions are included as products elsewhere on this website.
How long will it take?
We don’t generally do anything for new clients until our process of client retention has concluded – this involves agreeing the scope of what we are doing for the price (our terms are below), setting-up our client record, and producing the bill (payment in advance is required for all new clients).
After that, the production of the licence is a job that we can undertake in a few hours once we can schedule it in our workflow, that can depend on how busy we are at any particular time. We would not usually take-on a job for which we could not engage within about a working week.