Landlord, Consent To Assignment
Landlord’s Consent to Assignment
The undersigned, as owner and lessor of the real property in the lease agreement dated
___________ between _________________ as tenant (“Assignor”) and ____________
the undersigned and ___________________, as landlord, a copy of which is attached
(“Lease”), hereby consents to the assignment of the Lease by Assignor to ___________
(“Assignee”). The undersigned does not consent to any further assignment or subletting of the leased premises.The undersigned hereby certifies in respect of the Lease that:
A. The Assignor is tenant under the Lease.
B. The Lease as attached hereto is in full force and effect and Assignor is not in default hereunder.Assignor remains fully responsible under the lease until it is completely discharged. If Assignee does not make complete payments to landlord, assignor must seek recourse from the Assignee. Landlord will accept direct payments from Assignee only as a courtesy and that action will imply no release of Assignor from the original lease.
The undersigned, in the event Assignee exercises the option to extend or renew the Lease, if any, or if Assignee otherwise agrees to extend or renew the Lease, does hereby release Assignor, from any liability to the undersigned under the terms and conditions of said Lease which accrue and become due during the extended term thereof.
____________________ __________________ ____________________
Landlord Assignee Assignor
Landlord Consent to Assignment
Review ListThis review list is provided to help you to complete the Landlord’s Consent to Assignment and to ensure that the necessary steps are taken to make it binding as well as to inform you as to the continued liabilities of the Assignor.
1. The Landlord’s Consent to Assignment is used when a landlord agrees to the assignment of the tenant’s interest in the lease to a new tenant. This assignment, however, does not release the Assignor from payment responsibilities. Rarely will a landlord let an assignor “off the hook” for rent due from a new tenant. Therefore, the Assignor must set up a separate agreement with the Assignee to get paid. A promissory note is best, with the provision of offset for all payments made under the lease. This step can be done expeditiously with the other documents being signed. If not done, the Assignor may have to chase the Assignee for the money, on a less well-documented basis, at a later date. The best solution for the Assignor, as a rule, is to get the Assignee to take over a new lease and cancel the old lease, unless, of course, the Assignor is getting a premium for rerenting the leased space to him or her.
2. The document need only be signed by the Landlord. However, it is in the best interests of the parties to have all three parties to the Consent sign the document to indicate their agreement to the terms and conditions. Sign in multiple copies of at least 3 so everyone has an original copy.
Frequently Asked Questions
What is a landlord consent to assignment?
A landlord consent to assignment is a document in which the landlord of a leased property agrees to the transfer of the lease from the current tenant (the assignor) to a new party (the assignee). In the provided article, the landlord consents to the assignment but specifies that no further assignment or subletting is permitted. The document also includes certifications that the lease is in full force and effect and that the assignor is not in default.
Does a landlord's consent to assignment release the original tenant from liability?
No, according to the article, the assignor remains fully responsible under the lease until it is completely discharged. Even if the landlord accepts direct payments from the assignee as a courtesy, that action does not imply any release of the assignor from the original lease. Therefore, the original tenant continues to be liable for the lease obligations.
What happens if the assignee fails to pay rent after a landlord consents to assignment?
If the assignee does not make complete payments to the landlord, the assignor must seek recourse from the assignee. The landlord's acceptance of direct payments from the assignee is only a courtesy and does not release the assignor from the original lease. Thus, the assignor remains responsible for ensuring rent is paid.
Can a landlord refuse further assignment or subletting after consenting to one assignment?
Yes, the article states that the landlord does not consent to any further assignment or subletting of the leased premises. The consent is limited to the specific assignment described in the document. Any additional assignment or subletting would require separate consent from the landlord.
What certifications does the landlord make in a consent to assignment?
In the consent to assignment, the landlord certifies that the assignor is the tenant under the lease and that the attached lease is in full force and effect and the assignor is not in default. These certifications provide assurance to the assignee about the status of the lease. The document also includes a statement about the release of the assignor in the event the assignee exercises an option to extend or renew the lease.
Does the landlord's acceptance of rent from the assignee create a new lease?
No, the article specifies that the landlord will accept direct payments from the assignee only as a courtesy, and that action will imply no release of the assignor from the original lease. It does not create a new lease or release the assignor. The original lease remains in effect with the assignor still liable.
What is the effect of the landlord releasing the assignor upon renewal or extension by the assignee?
The article states that if the assignee exercises an option to extend or renew the lease, or if the assignee otherwise agrees to extend or renew the lease, the landlord does hereby release the assignor. This means that upon such renewal or extension by the assignee, the assignor is released from further liability under the lease. The release is contingent on the assignee's action to extend or renew.
Is the assignor released from the lease if the assignee renews or extends the lease?
Yes, according to the article, if the assignee exercises an option to extend or renew the lease, or if the assignee otherwise agrees to extend or renew the lease, the landlord releases the assignor. This release is specifically tied to the assignee's renewal or extension. Therefore, the assignor would no longer be responsible under the lease from that point.
What are the landlord's rights if the assignee defaults after a consent to assignment?
The article does not specify the landlord's rights in the event of an assignee default, other than stating that the assignor must seek recourse from the assignee if the assignee does not make complete payments. The landlord's acceptance of direct payments from the assignee is a courtesy and does not release the assignor. The assignor remains fully responsible under the lease until completely discharged.
Does the landlord's consent to assignment need to be in writing?
The article presents a written consent to assignment form, implying that the landlord's consent should be documented in writing. The form includes specific terms and certifications. While the article does not explicitly state that oral consent is invalid, the use of a written document suggests that written consent is the expected practice.
