Modify Overlooked Assignment Provisions

There are many issues to take into consideration when negotiating and drafting the assignment and subletting provisions in your lease. After all, assignments and sublets can be a key part of an exit strategy that you might need later. Being able to assign your lease or sublet your space is crucial if you’re a fledgling business in an untested market or neighborhood, or a business that has had financial hiccups. If you run out of funds, you can shift your obligations—most notably, paying rent—to a new tenant.

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