CHAPTER 21 Transferability of Leasehold Interests

• Jurisdiction: United States
• Publication year: 2022

CHAPTER 21 Transferability of Leasehold Interests

Chapter Contents

§ 21.01 Transferability

[1] Types of Transfers

[1A] Rights to Assign or Sublease

[a] In General

[b] Assignments Pro Tanto

[c] Inferred Restrictions on Transfer Rights

[2] Consent to Assign or Sublease

[a] Prohibitions to Assign or Sublet Without Consent

[b] Changes in Tenant's Corporate or Partnership Structure

[c] Waivers

[d] Sample Clause Requiring Landlord's Consent

[3] Standard of Reasonableness

[a] Common Law

[b] Statutory

[4] Implied Reasonableness Standards

[5] Interaction with the Use Clause

[6] Tax Consequences of Assignments and Subleases

[7] One State's Legislative Response—California

[8] Free Assignability

[8A] Conditions for Transfer

[9] Restricting Transfers and Other Changes in Control

[10] Addition of Tenant Entity

§ 21.02 Right to Acquire or Dispose of Space

[1] Reacting to Business Cycles and Normal Growth

[2] Excess Space

[a] Space Acquired for Future Expansion

[b] Right to Sublease Excess Space Acquired at Landlord's Initiative

[c] Transferring Excess Space Acquired During the Lease Term

[3] Landlord Recapture of Excess Space

[a] Landlord's Right to Review, Approve or Recapture

[b] Recapture...