• Answer:-

    A license to assign is a legal agreement granting permission to transfer or assign certain rights or obligations to another party. In the context of property, it allows a tenant to transfer their leasehold interest to a new tenant without violating the terms of the original lease. This process involves obtaining the landlord's consent and complying with any stipulated conditions. Unlike a lease transfer, where the original tenant is entirely released from responsibilities, a license to assign often maintains some level of liability for the original tenant. It's a crucial document in property transactions, ensuring a smooth and lawful transition of occupancy rights while respecting the terms set forth in the initial lease agreement.

Feb 01 2024

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