In commercial real estate transactions, lease assignment provisions play a critical role in balancing the rights of landlords, tenants and potential assignees.
Don't Sleep On Prohibitions on the Assignability of Leases
Attorneys advising commercial tenants on commercial lease documents should not sleep on prohibitions or other limitations on their client's rights to assign or transfer their interests in the leasehold estate. Assignment and transfer provisions are just as important as the base rent or any default clauses, especially in the era where tenants are searching for increased flexibility to maneuver in the hybrid working environment where the future of in-person use of real estate remains unclear.
By
Kevin M. Levy and Krystal R. Bordoni-Cowley
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