Property Management
A Washington commercial tenant wants to sublease half their space to another business. Under most commercial leases, subleasing requires:
ANo approval — tenants may freely sublease
BLandlord approval, which may not be unreasonably withheld✓ Correct
COnly notification to the landlord, not approval
DState DOL licensing for the sublease
Explanation
Most commercial leases restrict subletting and require landlord approval. In Washington, lease provisions requiring landlord consent to sublease are enforceable.
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Key Terms to Know
Short Sale
A sale of real property where the sale proceeds are less than the outstanding mortgage balance, requiring lender approval.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
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