Kevin M. Levy, left, and Krystal R. Bordoni-Cowley, right, with Saul Ewing. Courtesy photos Prohibitions on the Assignability of Leases—More Substance Than Form
From the tenant's perspective, flexibility in assignment can be essential for business growth or restructuring, while landlords typically seek to maintain oversight, continue to have financial assurances, and protect the integrity of the lease.
September 23, 2024 at 11:40 AM
6 minute read
Real Estate
In commercial real estate transactions, lease assignment provisions play a critical role in balancing the rights of landlords, tenants and potential assignees. Lease assignability clauses, which determine how and under what circumstances a tenant may transfer their leasehold interest to another party, are often heavily negotiated due to their potential impact on the property's control, value and long-term stability. From the tenant's perspective, flexibility in assignment can be essential for business growth or restructuring, while landlords typically seek to maintain oversight, continue to have financial assurances, and protect the integrity of the lease.
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