Help with an Assignment of a commercial lease

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    Help with an Assignment of a commercial lease

    I have a buyer for my business. He has multiple businesses in the area and doesn't use a solicitor to assign his different leases. He doesn't want to use a solicitor to assign my lease to him and Im happy with this as I know him. Legally does he need one? He has contacted the landlords solicitor to ask for approximate costings as he is to pay the landlords solicitor fees (in the lease) but she has refused to speak/email/call him to even discuss fees. My buyer is now saying he's going to pull out as he needs an approx cost before he's happy to proceed . Can anyone help with some advise please? This is the 2nd buyer I have found as the first buyer the landlord was not happy with.

    #2
    I'm not surprised the landlord's solicitor will not deal with your buyer. Your buyer doesn't need a solicitor but that doesn't entitle him/her to by-pass the normal procedure. The onus is on the tenant to request the landlord's consent for an assignment and usual for the tenant's solicitors to provide an Undertaking on Costs to the landlord's solicitors.The undertaking would also confirm that the costs would be payable whether or not the matter proceeds to completion.

    If you want to be able to tell your buyer what the costs are likely to be then you are going to have to ask the landlord in the first instance. Whether the landlord would let you have an approximately before a formal request for consent is made is up to the landlord.

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