Current through October 31, 2024
Section 162.453 - May a lessee sublease a business lease?(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.