Non assignable lease

[inform]

I have a non assignable lease which expires soon. The tenant has been trying to sell his business without any luck. He now wants to renew the lease but this would be only for the purpose to sell his businees and so would apply to the court to have the lease modernised to an assignable lease which would not be in our favour. Where as Landlords do we stand regarding this. Anyone out there know. :eek: :D

[Tax Accountant]

I believe that the courts take a strong view of the terms in the existing lease and would be reluctant to impose new terms in the renewed lease.

Ramnik

[Paul_f]

Your tenant has one of two choices.


He either renews the lease on the current terms if it is under the L & T Act 1954 which I suspect is right, or......
He surrenders the lease at the end of the term to you.

The court is unlikely to impose unreasonable terms on you as landlord if your lease is clear in that there is an absolute prohibition on assignment. End of story!

[inform]

thank you for your replies. very helpful :)