(1)  The tenant is not to transfer his or her rights and obligations under a residential tenancy agreement without the consent of the owner of the premises.

(2)  An agreement to transfer the rights and obligations of a tenant under a residential tenancy agreement in contravention of subsection (1) is invalid.

(3)  If, under this section, a tenant transfers his or her rights and obligations under a residential tenancy agreement –

(a) the transferee –

(i) becomes the tenant for the purposes of this Act; and

(ii) is taken to be the tenant under the residential tenancy agreement for the purposes of this Act; and

(b) the transferor is no longer the tenant for the purposes of this Act.

(4)  The owner, transferor and transferee are to –

(a) each sign a document recording the transfer of the rights and obligations under a residential tenancy agreement and the date the transfer took place; and

(b) each receive a copy of the signed and dated record of the transfer for his or her records.

(5)  Failure to comply with subsection (4) does not affect the validity of a transfer under this section of rights and obligations under a residential tenancy agreement.