WHEN YOU NEED A DEED OF SUB-LEASE

WHEN YOU NEED A DEED OF SUB-LEASE

Many property buyers and Tenants in Nigeria are not aware that the right document for their transaction is not a Deed of Assignment or Tenancy Agreement but a Deed of Sublease. Not getting it right has unpalatable legal consequences.

A Deed of Sublease is the legal document used when a Tenant or Lessee, who already holds a valid lease from the Landlord, transfers part of that interest to another person for a specified period.

Unlike a Tenancy Agreement which covers property rental of less than 3 years, a Deed of Sublease covers longer terms.

The person renting out the property on sublease (Sub-lessor) is not the original owner but a Tenant who still remains bound to the Landlord.

This means the new occupier (Sub-Lessee) must respect the conditions of the original lease and Landlord while also enjoying lawful possession under the sublease.

A properly drafted Deed of Sublease will clearly state the rent, the duration, duties of both parties and the extent of rights being transferred.

It protects the Sub-lessee from being quit and ensures the original Tenant complies with the head Lease.

Before entering into a sublease, the consent of the Landlord is often required, else the transaction may be invalid.

At Apex Chambers, we remind clients wanting to take or grant a Sublease, to get a Property Lawyer to prepare a Deed of Sublease that protects their interests.
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APEX CHAMBERS, Law Firm of Property/Real Estate and Business/Corporate/Commercial Lawyers, Attorneys, Barristers, Solicitors Advocates, Legal Practitioners rendering legal services, Legal Consultants and Notary Public with Law Office in Port Harcourt, Rivers State, Nigeria

Phone: +234(0)7030868694 (Calls & Whatsapp)
Email: info@apexchambersglobal.com
Website: www.apexchambersglobal.com