A leasehold transfer typically occurs when a tenant wishes to assign their remaining lease term to someone else. This can happen for a variety of reasons relocation, business changes, or financial hardship. However, transferring a lease is not as... simple as handing over the keys. Most leases require the landlord’s prior written consent before any transfer can occur, and landlords often have the right to refuse or impose conditions. Understanding your lease terms is crucial. Some leases specifically prohibit assignment or subletting, while others may allow it under certain conditions. Tenants should also be aware that they may remain liable under the lease even after a transfer unless they negotiate a formal release.
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