§516-63  Free assignability.  Except as
otherwise provided in section 516-35 and restrictions placed in leases by state
or county agencies, a lessee may assign the lessee's lease at any time without
the approval or consent of the lessor, and the assignee shall have the same
rights and obligations under the lease as the original lessee; provided that no
such assignment shall be effective to transfer any interest in the lease unless
the lessor has received (1) either a true executed copy of such assignment or
written notice thereof, (2) a reasonable service charge, except in case of an
assignment by way of mortgage or assignment to or by the Federal Housing
Administration or Veterans Administration or the Federal National Mortgage
Association or a foreclosure of mortgage or assignment in lieu of foreclosure,
and (3) the written undertaking of the assignee to perform all obligations of
the lessee under the lease, which undertaking may be incorporated in such
assignment.  No such assignment shall release the assignor from liability under
the lease unless the lessor consents in writing to the assignment.  A consent
to the assignment shall be deemed a consent to the release of the assignor from
liability under the lease.  The lessor shall not require payment of any money
for the lessor's consent except the service charge, nor withhold such consent
unreasonably.  Any person acquiring the leasehold estate in consideration of
the extinguishment of a debt secured by mortgage of the lease or through
foreclosure sale, judicial or otherwise, shall be liable to perform the
obligations imposed on the lessee by the lease only during the period such
person has possession or ownership of the leasehold estate. [L 1967, c 307,
§36; HRS §516-63; am L 1968, c 46, §2k; gen ch 1985; am L 1986, c 218, §1]



 



Note



 



  Veterans Administration referred to in text is now the Department
of Veterans Affairs.