Puerto Rico Agreement for Construction of a Building with no Assignment or Subletting of either Party's Interest without Consent of other Party
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How to fill out Agreement For Construction Of A Building With No Assignment Or Subletting Of Either Party's Interest Without Consent Of Other Party?
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FAQ
Lessee shall not assign this lease, nor sublet the above-described premises or property, without written consent of Lessor, nor suffer any use of the premises other than herein specified. NO SUBLETTING. Occupant shall not assign or sublease the Unit without the written permission of the Owner.
Sub-letting involves a tenant leasing out all or part of their premises to a third party. Under a sub-letting agreement, the rights and obligations created under the initial lease remain in force. An assignment involves transferring the lease from one party to another.
Lessee/s agrees not to assign this Lease or to sublet any part of the Property, nor to allow any other person to live there other than named as above, without first receiving written permission from Landlord.
A Sublease Clause is defined as a portion of a commercial lease agreement that determines whether or not an existing tenant can sublease space to another tenant.
In the context of a sublease, the head lessee maintains the role of tenant with the head lessor as landlord, while in an assignment, the head lessee is removed from the relationship and the sublessee becomes the tenant of the head lessor in its place.
'Assigning' a lease simply means transferring your lease to another person so that they become the new tenant. Once the assignment has taken place the lease continues to exist and the new tenant becomes liable for all of the tenant's obligations in the lease.
An assignment is a complete transfer of the tenant's remaining lease term. Any transfer for less than the entire duration of the lease is a sublease.
Subletting means that you find another person to live in your place and pay rent to you, while you remain the original tenant and responsible for the lease. Assigning means that you transfer your lease rights and obligations to another person, who becomes the new tenant and deals directly with the landlord.