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Posted by TenantNet on April 12, 1998 at 19:20:34:

In Reply to: Assiging a Lease posted by Francis K. Rivera on March 19, 1998 at 09:47:12:

: If a tenant successfully assigns a lease to someone, what happens to that lease?
: Does it get re-drawn up for the assignee?
: What happens to the rent?
: Thanks

In New York, tenants do not have the right to unilaterally assign
leases, and can only be done if the landlord agrees. A new lease
would be drawn up for the new tenant and an agreement would be made
indicating the assignment, its terms, that both the landlord and
both old and new tenants agree to the assignment.

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Comments:
: : If a tenant successfully assigns a lease to someone, what happens to that lease?
: : Does it get re-drawn up for the assignee?
: : What happens to the rent?
: : Thanks

: In New York, tenants do not have the right to unilaterally assign
: leases, and can only be done if the landlord agrees. A new lease
: would be drawn up for the new tenant and an agreement would be made
: indicating the assignment, its terms, that both the landlord and
: both old and new tenants agree to the assignment.


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