Usually there will be provisions in the lease which requires that before the tenant makes any transfer/alienation of the lease, the tenant must first obtain the prior consent of the landlord.
This gives the landlord the chance to check-out the financial standing of the proposed replacement tenant (called the “assignee”) and to make sure that the landlord’s property is not transferred/assigned to an unsuitable person or used for unsuitable purposes. Similarly, the lease may restrict any subletting of parts of the premises.
The lease may specify what conditions the landlord may require to be met before the landlord grants consent to the transfer/assignment.
In addition, the landlord has to comply with the provisions of the Landlord & Tenant Act 1988 (the “1988 Act”) in considering an application to assign or sublet the lease.
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