Licence to Assign
When selling a leasehold property a licence to assign may be required if stated within the lease. Brady Solicitors can manage one or all of your licence to assign work following a simple introduction to the leaseholders.
What is a licence to assign?
A licence to assign is the formal document detailing the landlord’s permission for a leaseholder selling their property to assign the lease to the new incoming leaseholder purchasing their property. This then makes the incoming leaseholder responsible for the leaseholder duties within the lease.
When assessing whether to approve a licence to assign request there are a number of aspects to check, such as whether the ground rent and service charges are paid up to date. Whilst some managing agents have the capacity to manage these assessment themselves, a large proportion of managing agents prefer to use expert solicitors to carry out all their licence to assign work.
Brady Solicitors’ experts can:
- Liaise directly with the leaseholder’s solicitors following a simple introduction from their managing agent.
- Carry out all of the necessary assessments to confidently approve a licence to assign request.
- Invoice the leaseholder directly, removing any potential cost to the managing agent.
- Provide the managing agent with all of the relevant documentation upon completion to keep on file to aid with good estate management.
- Work within a time frame to suit the requirements of the leaseholder and freeholder or managing agent.
- Turn a licence around within 3 days when required to do so.
- Provide a notice of transfer or a notice of charge for the purchasing/incoming leaseholder.
Related news and insight
We blog regularly on a range of property-related legal matters, from service charge arrears recovery through to lease extensions. We also aim to bring up to date, easy to read analyses of recent cases to help readers stay informed. Many of our blogs arise from questions we are asked by our clients; to suggest a possible blog topic please do get in touch.
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