Cheers, that’s kind of what I was thinking.
The 2 people are in a partnership at the moment and 1 wants to leave the business and leave the other in charge taking on the lease and all the liability for rent etc. The lease runs for another 18 months and it would have been nice to think that a cheap (free) option would be a typed agreement saying that the remaining partner assumes all liabilities in the master lease.
The remaining partner does not think there is a need for anything other than a verbal agreement but the other partner (my interest is with this side) is worried they will be open for major issues should there be a problem (roof collapse) or default on rent.
I guess the cost of a formal sub-lease drawn up by a solicitor would be worth it’s weight in gold should there be problem.
Thanks again.