Reduce Exposure to Liability After Assigning Lease

August 29, 2010
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The economy has forced many business owners to sell, close, or relocate their businesses, leaving them with leases for commercial space they don't need. Assigning your lease to a replacement tenant—an assignee—that will move into your space and pay rent can be a good solution, but it might not free you from all of your obligations. Even if the assignee causes damage to the space or defaults after you have assigned the lease to it, you still could be liable.

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