Unit 6 - Chapter 8 - Procedural Steps for the Assignment of a Lease Exam Questions with 100% Correct Answers Latest Graded A+

Unit 6 - Chapter 8 - Procedural Steps for the Assignment of a Lease
Exam Questions with 100% Correct Answers Latest Graded A+


Question:
True or false? The assignor must use all reasonable endeavours to get the landlord's consent for the
licence to assign
Answer:
False - just reasonable endeavours


Question:
What should the assignor's solicitor give an undertaking in regard to, to the landlord's solicitor?
Answer:
To pay all reasonable costs incurred in considering assignment


Question:
True or false? The landlord's consent for a licence to assign must be obtained before completion
Answer:
False - it can be obtained on completion


Question:
If the Standard Conditions are used and the alienation covenant is breached by not obtaining the
landlord's consent what is the state of the licence to assign?
Answer:
Either party can rescind via notice if consent not given 3 working days before completion/ landlord
consents but with unreasonable condition


Question:
If the Standard Commercial Property Conditions are used and the alienation covenant is breached
by not obtaining the landlord's consent what is the state of the licence to assign?
Answer:
Consent postponed until 5 working days after assignor tells assignee landlord's consent