Lease assignments without landlord approval

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 assignment shall be effective to transfer any interest in the lease unless the lessor has received: (1) Either a true executed copy of the 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, Department of Veterans Affairs, or 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 the assignment. No 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 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 the person has possession or ownership of the leasehold estate.