WHEN YOU NEED A SUB-LEASE

WHEN YOU NEED A SUB-LEASE

A lease does not always mean you are stuck using a property alone for years.

At some point the space may become too big or your business may demand flexibility.

A Deed of Sub-Lease is a legal document that allows a Tenant who already holds a valid lease of land/building for three years and above, to transfer part of that lease to another person.

The original Tenant (called Sub-lesssor) remains legally bound to the Landlord while the new occupant (called Sub-lessee) derives rights through the Tenant.

This arrangement is common in commercial properties, office spaces, shops, warehouses and residential properties where part of the premises is being legally handed over.

Without proper documentation, what looks like a simple arrangement can bring issues, eviction threats, loss of rent or court cases.

A properly drafted Deed of Sub-Lease states who occupies what, who pays what, how long the sub-lease lasts and what happens if any party defaults.

It protects the Landlord’s interest, secures the Tenant’s existing lease rights and gives the sub-lessee lawful possession.

Because many legal interests are involved, it is best that a Property/Real Estate Lawyer drafts and prepares the Deed of Sub-Lease to ensure compliance with the original lease terms, avoid invalid sub-lease and protect the rights, interests and duties of all parties involved.

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APEX CHAMBERS, Law Firm of Property/Real Estate and Business/Corporate/Commercial Lawyers, Attorneys, Barristers, Solicitors, Advocates and Legal Practitioners rendering legal services, Legal Consultants and Notary Public with Law Office in Port Harcourt, Rivers State, Nigeria

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