Modify Overlooked Assignment Provisions

August 22, 2016
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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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