Shift Obligations to New Tenant after Assigning Lease

If you anticipate that an upcoming move might be necessary for your business but you need to renegotiate your lease that’s almost up so you can stay in the same space for now, you’ve probably explored the idea of assigning your lease to another tenant that wants the space. But don’t be tricked into thinking that because the tenant—the “assignee”—has taken over your space, it’s also responsible for all of the obligations you were when you operated there. It’s not that simple.

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