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License To Assign Leasehold for Ireland

License To Assign Leasehold Template for Ireland

A License to Assign Leasehold is a formal legal document used in Irish property law that grants permission from a landlord to an existing tenant to transfer (assign) their lease to a new tenant. This document is crucial in the Irish property market as it provides the necessary legal framework for lease assignments while protecting the interests of all parties involved. It sets out the conditions under which the assignment can proceed, includes specific covenants and obligations for both the current and proposed new tenant, and typically incorporates various provisions relating to fees, timing, and completion requirements in accordance with Irish property law and practice.

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License To Assign Leasehold

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What is a License To Assign Leasehold?

The License to Assign Leasehold is a critical document in Irish property transactions, required whenever a tenant wishes to transfer their leasehold interest to another party. This document is essential in both commercial and residential contexts, as most leases contain provisions requiring the landlord's formal consent before any assignment can take place. The license provides protection for all parties by clearly setting out the conditions of the landlord's consent, any continuing obligations of the original tenant, and the requirements that must be met by the incoming tenant. It typically includes details about the property, reference to the original lease, financial obligations, and any specific conditions that must be satisfied before the assignment can proceed. The document must comply with Irish property law, particularly the Landlord and Tenant Acts and the Land and Conveyancing Law Reform Act 2009.

What sections should be included in a License To Assign Leasehold?

1. Parties: Identifies the Landlord (Licensor), Current Tenant (Assignor), and proposed New Tenant (Assignee)

2. Background: Recitals explaining the existing lease arrangement, the desire to assign, and the purpose of this license

3. Definitions: Defines key terms used throughout the document, including 'Lease', 'Property', 'Assignment Date', and 'License Fee'

4. Grant of License: The formal permission granted by the Landlord for the assignment of the lease

5. Conditions of Assignment: Specific conditions that must be met before the assignment can proceed

6. Assignee Covenants: Direct covenants from the proposed new tenant to comply with lease terms

7. Assignor Obligations: Continuing obligations of the current tenant, including any guarantees

8. Fees and Costs: Details of any license fee and responsibility for legal costs

9. Timing and Completion: Timeframe for completing the assignment and any deadline for the license

10. Governing Law: Confirmation that the agreement is governed by Irish law

What sections are optional to include in a License To Assign Leasehold?

1. Security Deposit Arrangements: Required when there are specific arrangements for transferring or replacing the security deposit

2. Guarantor Provisions: Include when a guarantor is required for the new tenant

3. Break Clause: Include when specific termination rights are being granted to any party

4. Rent Review Acknowledgment: Required when there is an upcoming or ongoing rent review

5. Works Provisions: Include when the assignment involves ongoing works or alterations

6. Service Charge Reconciliation: Required when there are outstanding service charge calculations to be addressed

What schedules should be included in a License To Assign Leasehold?

1. Schedule 1 - Property Description: Detailed description of the property including any plans or maps

2. Schedule 2 - Original Lease Details: Key details from the original lease including date, parties, and term

3. Schedule 3 - Conditions Precedent: List of conditions that must be satisfied before assignment

4. Schedule 4 - Form of Assignment: Prescribed form of the deed of assignment to be used

5. Schedule 5 - Assignee Information: Details of the proposed assignee including financial information and references

6. Appendix A - Consent Letter: Standard form of the formal consent letter to be issued upon completion

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Ireland

Publisher

Ƶ

Document Type

License Agreement

Sector

IP

Cost

Free to use
Relevant legal definitions





























Clauses

























Relevant Industries

Real Estate

Commercial Property

Retail

Hospitality

Office Space

Industrial

Residential Property

Shopping Centers

Healthcare Facilities

Educational Institutions

Relevant Teams

Legal

Property Management

Real Estate

Facilities Management

Asset Management

Operations

Administrative Support

Risk Management

Commercial Leasing

Property Services

Relevant Roles

Property Manager

Real Estate Lawyer

Leasing Manager

Asset Manager

Facilities Manager

Commercial Property Director

Legal Counsel

Tenant Coordinator

Property Administrator

Real Estate Portfolio Manager

Lease Administrator

Commercial Property Solicitor

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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