Courtesy of T.Dallas/Shutterstock.com Anti-Assignment Provisions in Leases
In their Transactional Real Estate column, Allen Wieder and Salvatore Gogliormella review cases suggesting that courts in New York, California, Texas, and Illinois intend to continue to carefully consider and narrowly construe anti-assignment provisions in leases and other corporate transactional documents.
August 11, 2020 at 12:30 PM
11 minute read
Real estate practitioners are frequently asked to opine on whether particular corporate transactions violate lease provisions that are intended to restrict assignments and changes in control of the tenant. Typically, parties are permitted to freely transfer contractual rights without obtaining permission from their counterparties. However, leases commonly contain provisions restricting assignment, subletting and changes in control. These restrictions will be enforced, but will be construed as restraints on alienation which are to be narrowly construed.
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