# Lease assignment

The tenant's transfer of its lease to a buyer, usually needing landlord consent.

When the location is the business, this third party can kill a deal or reprice it late, and they have every incentive to take their time about it. Make consent a closing condition and start the conversation the week the [LOI](https://searchspheresource.com/glossary/loi) is signed, since a landlord who learns of the sale from your lender is a slower landlord. Read what remains on the term as carefully as the consent itself: a lease with two years left on a business you are financing over ten is a repricing appointment you have already agreed to.

In numbers: A buyer assuming a $6,500-a-month lease needs the landlord's written consent, and landlords use the moment: a bump to $7,200, a fresh [personal guarantee](https://searchspheresource.com/glossary/personal-guarantee), or a bigger deposit are all common asks. On a thin-margin business, that $700 a month is a 1.6% cut to a $520,000 [SDE](https://searchspheresource.com/glossary/sde).

Source: https://searchspheresource.com/glossary/lease-assignment
Not dated: A definition is editorial: what a term means, why it matters, and an example. None of it reads a source that can go stale, so there is no date to take and a stamped one would be the build time wearing a costume.

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