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The Leasing Hotline
ASSIGNMENT OF LEASE
Lease provisions restricting the assignment of a lease are to be construed strictly because New York law disfavors restrictions on assigning or subletting. Ring v. Mpath Interactive Inc., Gamespy Industries, Inc., and Hearme, 04-3170-cv(L), U.S. Court of Appeals for the Second Circuit, May 6, 2005.
The tenants wished to sublet or assign the premises, and the landlord withheld consent. The parties sought judicial interpretation of their rights and obligations under the lease. The court granted summary judgment in favor of the tenants. The appellate court affirmed and held that New York law disfavors restrictions on assigning or subletting. Here, the tenants were able to demonstrate that nothing evidenced reasonable grounds for the landlord's refusal of consent. Even though the landlord argued that the potential assignee's financial condition was questionable, it was unable to show substantial proof and specific facts to overcome summary judgment. The appellate court did not find convincing the landlord's argument that defects in the notice of assignment prohibited its consent to assignment and held that such minor procedural errors should not have prohibited the assignment of the lease.
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