Covid-19 Bounce Back loans for property businesses16:06 PM, 5th May 2020
About 3 weeks ago 46
My daughter, who rents a flat, has just presented us with a form to witness for her in relation to the flat. It would appear that the flat in question is actually owned by a local community housing company who in turn is leasing it on too her landlord.
She has been asked to sign a form headlined UNDERLETTING DEED. It states as follows:-
THE PRESENT POSITION.
The property is now leased to the tenant for the remaining years of the lease.
The underlessee has agreed with the tenant to take an underlease of the property and to comply with the terms of the lease the underlessee has agreed to enter into this deed.
By signing this deed, the Underlessee formally commits to the Lessor and separately with each and every tenant of any other property in the building of which the property forms part that from the date of this deed and for the duration of the underlease the underlessee will obey all of the restrictions, covenants and conditions contained in the lease and will observe and perform such of the obligations of the tenant which are the usual responsibility of the property.
My question is simple.
What does all this mean and should she/we be concerned in signing such a form?
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