Our lease lawyers are experienced in negotiating in drafting complex sublease and assignment of lease documents.
A sublease is usually for part of the lease premises and the tenant will generally be responsible for all of the actions of the subtenant. An example of the sublease might be that an office tenant subleases part of that space to another party. The landlord’s consent is typically required, but cannot be unreasonably withheld, depending upon the wording of the lease and the extent to which the Retail Leases Act will apply.
An assignment of lease is somewhat different in that the entire lease is, as the word suggests, transferred or assigned to another party. This typically occurs in the sale of a business, as the most common example.
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