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Buachaill
Buachaill, Barrister
Category: Law
Satisfied Customers: 10527
Experience:  Barrister 17 years experience
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I have found a shop which has an existing tenant in place

Resolved Question:

Hi. I have found a shop for rent which has an existing tenant in place with 14 months left in her agreement. Can the lease easily be transferred over if all parties are in agreement?
Submitted: 1 year ago.
Category: Law
Expert:  Buachaill replied 1 year ago.

1. Essentially, all that needs to take place here is an assignment of the lease from the existing holder of the lease to the person who intends to take over. It is important that this Assignment of the lease is in writing as it is not valid if it is not in writing. If the landlord is amenable you can seek to extend the term of the lease. However, this should not prejudice existing rights to renewal or other accrued rights in relation to the lease. I would suggest you get a solicitor to draft up the assignment of the lease. Whilst this might seem unnecessary, it does ensure that it is done properly.

Expert:  Buachaill replied 1 year ago.

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