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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 31768
Experience:  Over 5 years in practice
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My company A (formerly owned by me & my partner) is in a 5

Customer Question

Hi there, My company A (formerly owned by me & my partner) is in a 5 year commercial lease arrangement with a landlord. We have set up another company B which now owns all the shares in company A. My partner and I own 100% of Company B now. Ultimate control and ownership remains the same. In summary, partner & I now own Company B which owns 100% of Company A.
I now want to transfer the commercial lease of Company A to Company B but there is a clause in the commercial lease agreement which needs to be satisfied for this transfer or assignment to be granted by the landlord. I think I understand the clause but need more clarification.
Submitted: 1 year ago.
Category: Law
Expert:  Alex J. replied 1 year ago.

Hi, Thank you for your question and welcome. My name is ***** ***** I will assist you. Does the clause state you need a licence to assign from the landlord and some form rent guarantee? Kind regards AJ