Typically, the lessor`s lawyers provide a standard form for the lease assignment agreement. If the transferee does not withdraw, you remain liable until the lease expires. An AGM is an agreement that obliges an outgoing tenant to guarantee the execution of the rental agreements contained in the rental agreement by the new tenant or “Zessional”. When a tenant assigns his lease to a new tenant (pensioner), the lessor may require the tenant to make an AGM with the lessor, a prerequisite for granting his consent to the assignment of the lease. An AGM is a form of guarantee that the (outgoing) tenant gives to the landlord only if the buyer does not fulfill the tenants` obligations of the rental agreement, such as for example. B the payment of the rent, the repair of the property, etc., the outgoing tenant will do it. In other words, the outgoing tenant becomes the guarantor of the secessionist. The limits of the characteristics that an AGM can and cannot have are set out in the Landlord and Tenant Act 1995. It is therefore important that tenants fully understand the implications, risks, and potential trading platforms related to A.A.
before signing an agreement to enter into one. . . .