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Lease Assignment

Lease Assignment

When you buy a small business including premises, you will either need to purchase the premises or, in most cases, take assignment of the lease. This is the process by which you take over the remaining lease period and the liabilities associated with it.

When taking an old lease you are effectively stepping into the shoes of the person you’re buying the business from. We work with you to identify the liabilities in the lease and to try and minimise these.  We will also review the land registration document and raise enquiries with the existing tenant to ensure all the correct documentation is in place.

 

When it comes to assigning leases we understand that it is important that you have this set up right, from the beginning.  We will support you with:

  • assisting landlord and tenant in providing correct documentation
  • obtaining landlord’s consent
  • advising on lease conditions for assignment.

Getting Permission First

It is highly likely that you will be required to gain permission from the landlord prior to taking over any lease. This will have to be done in a specific way as laid out in the lease agreement – failure to comply with these terms exactly can be costly down the road.  It is imperative to obtain landlord’s approval and consent to the assignment as soon as possible.

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Kerry Houston - Kypta

For Kerry Houston-Kypta, Partner:

“Many thanks for guiding us through the sale of land. Also for in helping us to keep realistically within our budget. Our dealings with you both made it a pleasurable and stress-free transaction.”
Kerry Houston - Kypta
"As church building contractors we are well used to working on unusual buildings with unique problems to overcome. So, when the opportunity to buy a redundant church to convert to residential apartments came our way, we knew we would need a commercial solicitor  that could navigate a very unusual purchase. Having worked with Kerry Houston-Kypta on a similar project 10 years ago, we felt she was the one person who would make sure the complicated process of purchasing from the church of England went smoothly. As always, Kerry was available to answer any questions and offer sound legal advice in her calm and easy to understand manner. We are happy to say we completed last week and Kerry will also be assisting us with the development finance, drawing up all the leases and providing the sales conveyancing. We would have no hesitation in recommending Kerry to any property developers looking for excellent service, sound advice and competitive fees."
Kerry Houston - Kypta

"I would also like to express my gratitude for your professionalism, support and patience in dealing with this matter and the speed with which you managed to complete the work when finally you were provided with the undertaking. Thank you again for all your help. It is very much appreciated."

Charlotte Lilley

For Charlotte Lilley Solicitor: 

“Coles Miller were a real help during our move. They weren't just efficient and helpful, they were proactive. Charlotte Lilley helped us to buy with confidence by identifying several important issues in the early stages. I'd like to extend my thanks to Charlotte for keeping the transaction moving, in what were very difficult times for everybody. I would recommend Charlotte without reservation."
Charlotte Lilley
"We were very happy and satisfied with the service we received from Charlotte and her team. Charlotte and her team were patient and displayed full of professionalism. I will certainly recommend them to others."

Meet the team
Kerry Houston-Kypta Headshot

Kerry Houston-Kypta

Partner and Head of Commercial Property

Eleanor Lewns Headshot

Eleanor Lewns

Solicitors Apprentice

Kelsey Cadden Headshot

Kelsey Cadden

Legal Secretary