Property Management
A Florida commercial lease contains an 'assignment' clause that prohibits assignment without landlord consent. The tenant wants to sell their business to a buyer who will continue operating the same business in the leased space. This arrangement:
AIs automatically permitted since it is the same business
BRequires the landlord's consent if the lease agreement requires it for assignments✓ Correct
CIs exempt from assignment restrictions since business sales are not real estate assignments
DTerminates the existing lease and requires a new lease
Explanation
Selling a business that includes the lease as an asset constitutes an assignment of the lease. If the lease requires landlord consent for assignment, the tenant must obtain that consent before the sale.
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