Licence To Change Use Of Commercial Property And Assign New Lease
Publisher one
Genie AIJurisdiction
England and WalesCost
Free to useRelevant sectors
Type of legal document
🏡 Licence to assignBusiness activity
Change use of propertyA licence to assign is a legal document that allows the holder of a property to transfer their interest in the property to another person. The licence to assign must be in writing and signed by both parties.
This legal template addresses situations where a tenant wishes to alter the usage of a commercial property, often due to changes in business operations, market demands, or opportunities for expansion. It allows the existing tenant, referred to as the "assignor," to obtain the necessary permissions from the landlord, referred to as the "licensor," to change the property's designated use and assign the lease to a new tenant, also known as the "assignee."
The template covers various crucial aspects, such as defining the new purpose or use required, ensuring compliance with local zoning regulations, and specifying any necessary modifications or renovations to the premises. It includes provisions related to the timeframe and conditions for the change of use, ensuring that all parties involved understand their rights and obligations.
Additionally, this legal template outlines the requirements for transferring the lease to the new tenant. It covers aspects like the assignment fee, if applicable, and the assignee's responsibility to meet all lease obligations, such as rent payments, maintenance, and other tenancy-related responsibilities. It also includes provisions to address any necessary consents, indemnification clauses, and other legal matters that may arise during the assignment process.
Overall, this legal template serves as a guide for parties involved in negotiations regarding the change of use and lease assignment for a commercial property within the UK. It aims to offer a legally sound and comprehensive agreement that protects the rights and interests of all parties while ensuring compliance with relevant UK laws and regulations.
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