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This Checklist is primarily for use on the assignment of a commercial lease. It is not exhaustive and will not cover every eventuality for every transaction. You must always consider whether there are any other issues that need to be addressed. It assumes that:

1. •

   the lease is a lease of commercial property let at an open market rent to an occupational tenant under terms where the landlord insures the property

2. •

   the assignor occupied the property for the purposes of their business and the assignee also intends to occupy the property for the purposes of their business

3. •

   the lease is a head lease and the property is not subject to any underleases

4. •

   the lease is not subject to a fixed charge (in practice this would be unusual), and

5. •

   no premium is payable

If the assignment is part of a larger or more complex transaction, further relevant content may be found in Acquisition of commercial property (buyer)—checklist and Practice Note: Transferring commercial property—a practical guide.

If acting for the assignor, see Assignment