Legal Question in Real Estate Law in Massachusetts
assignment of commercial lease-who's responsible
In a commercial lease, when it states that it is assignable, does that mean original lessee is responsible if the new lessee defaults on monthly payments?
Does it have to state clearly in the original lesse that original owner is responsible, or does just the fact that it is assignable, and you assign it to someone, mean the original lessee is responsible in the case of a default?
Thank you.
--name removed-- may
1 Answer from Attorneys
Re: assignment of commercial lease-who's responsible
Generally an assignment of the lease transfers the tenants rights and obligations under the lease. Most leases contain a clause that states the landlord has to approve of the new tenant prior to the assignment. You need to carefully review the lease to determine whether you can assign and whether or not the landlord needs to give prior consent. An assignment, as opposed to a sub-lease, is for the remainder of the term of the lease. The sub-lease, on the other hand, is for less than the remaining term or is for a part of the space. Generally, in a sublease, the original lease holder would remain liable if the sub-tenant did not pay rent. Again, you need to carefully review the lease to determine your rights.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
