§ 162.453. May a lessee sublease a business lease?
112 words·~1 min read·
/us/cfr/t25/s§ 162.453·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)A lessee may sublease a business lease by meeting the consent requirements in § 162.454 and obtaining our approval of the sublease under §§ 162.455 and 162.456, or by meeting the conditions in paragraph
(b)of this section.
(b)Where the sublease is part of a commercial development or residential development, the lessee may sublease without meeting consent requirements or obtaining BIA approval of the sublease, if:
(1)The lease provides for subleasing without meeting consent requirements or obtaining BIA approval;
(2)The sublease does not relieve the lessee/sublessor of any liability; and
(3)The parties provide BIA with a copy of the sublease within 30 days after it is executed.