What Is Sublease

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What Is Sublease
What Is Sublease

Video: What Is Sublease

Video: What Is Sublease
Video: What is a Lease and a Sublease? 2024, November
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Sublease is a temporary assignment of rights by the lessee to the property leased by him or to a part of it. The subleaser receives the rights and obligations stipulated in the original lease. This is a good way for the renter to lower their rental costs if they are not using some of the rented property. Sublease is a completely official form of civil law relations regulated by current legislation.

What is sublease
What is sublease

Features of sublease contractual relations

According to the agreement concluded between the lessee and the subleased, the former undertakes to lease for the agreed period the property that he has in lease in accordance with the agreement between him and the lessor. In this case, the lessor is an obligatory participant in this civil law transaction - without his consent, it can be invalidated.

This consent can be formalized as an additional agreement to the lease agreement, in the form of a certified letter or minutes of a joint meeting. It can also be stipulated in advance in the primary lease agreement as the tenant's right to temporarily sublet the property.

The sublease does not release the lessee from the obligations that he has to the lessor in accordance with the lease. This norm is established by law in clause 2 of Article 615 of the Civil Code of the Russian Federation and cannot be changed or canceled by lease or sublease agreements.

The sublease agreement cannot be concluded for a period exceeding the validity of the original lease agreement. In the event that the term of the lease agreement is not determined, the sublease agreement can also be concluded on the same condition. There is one more important point, according to the sublease agreement, the lessee cannot transfer to the sublease more rights to own and use the property than he himself has. It should be noted that, like all contracts related to real estate, a sublease agreement, which is valid for more than 1 year, must be registered with the territorial authority of Rosreestr without fail.

What you need to register a sublease agreement

In order to register a transaction in accordance with the procedure established by law, you will have to pay a state fee and attach a payment document confirming the payment to the documents submitted for registration. This package of documents should include:

- documents proving the identity of the participants in the transaction - the lessee and the subleasers;

- documents of title to the property transferred to the sublease - the lease agreement, as well as the sublease agreement itself, which is provided in the form of originals in an amount of at least 2 copies;

- documents for property transferred for sublease: cadastral and technical passports and other documents containing a description of the object of lease relations.

Before registering a transaction, check the full list of required documents with the territorial agency of Rosreestr.