Leasehold

Question 1

Assignment of leasehold

Answer 1

• Transfer to 3rd party of ALL leasehold interest

- Obligations of the transferor still applies, unless landlord waives obligation

Question 2

Subletting leasehold

Answer 2

Transfer to 3rd party PART of leasehold interest

Question 3

Joint tenancy requirements

Answer 3

Unity of:

• Interest
• Possession
• Time
• Title

Question 4

Joint tenancy characteristics

Answer 4

• Right of survivorship
• Equal shares
• No pass of shares by will
• If share sold to other, the other enter as Tenant in Common, and other joint tenants remain the same

Question 5

Rule in Dumpor’s Case

Answer 5

If landlord consents to an assignment by tenant, the covenant against assignment is WAIVED and assignee can assign other without covenant