What does transferring your lease mean?
A legal lease transfer can be used in two situations:
- To transfer the lease to a new party entirely
- To add a new co-leaseholder to a lease or remove an existing co-leaseholder
When a lease is transferred to a new party (company, individual, or multiple individuals), the previous leaseholder relinquishes all interest in and bears no further responsibility for requirements associated with the lease. When a transfer is used to add or remove someone from a lease, at least one existing leaseholder remains named on the lease after the transfer is processed. The latter case typically involves adding a family member's name to the lease, such a spouse or child.
When a lease is transferred, the term of the lease does not change. Those named as leaseholders on the transferred lease retain the current term of the lease.
Reasons to transfer your lease:
Add a co-leaseholder
Are you currently the sole leaseholder and permittee on your lease? This means you are the only individual with authority to sign documentation related to your lease. If this is the case, you may want to consider adding an additional co-leaseholder. Any additional co-leaseholders would then be eligible to act as permittees with signatory authority. Also, in the event of the primary lessee's death, any co-lessee(s) would assume the remainder of the current term of and all obligations associated with the lease, including but not limited to annual rent and reporting. If no co-lessee is named, the lease will automatically revert back to the State upon a leaseholder's death. The lease is not inheritable and will not be passed down to next of kin.
Co-leaseholders are eligible to act as permittees with signatory authority and have the ability to sign documents (i.e. Monthly Harvest Reports, Annual Usage Reports, etc.)
How to transfer:
Please print, complete, and return the "Request to Transfer Form" to the Aquaculture Division. The department will use your request form to create personalized transfer documents. After the department receives the request we will verify that the lease to be transferred is in good standing. The department will then provide all documents required for a lease transfer, including a personalized Transfer Form that requires notarization by both parties. Please allow up to 2 weeks processing time to receive these documents from the time your request is submitted. Lease transfer requests received after October 15th will be held until annual invoicing and reporting for the calendar year has concluded.
Have you already received your transfer paperwork and have questions?
Instructions for Transfer of Shellfish or Aquaculture Lease
Please contact Alyssa Cranska at 410-260-2405 or email@example.com if you have any questions regarding transfers.
Frequently Asked Questions