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Lay the foundation for a great (and long-lasting) landlord/new tenant relationship.
Learn about important factors to consider during the assignment process.
Learn how to understand the terms of your assignment.
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From time to time, tenants may choose to leave a rental property before the end of their lease. The reasons for this can vary. Going out of business, the sale of an enterprise or a life change are all possible reasons. Whatever the circumstance, by completing an assignment of commercial lease, tenants can transfer their lease interests and obligations to new parties.
An assignment transfers one party's entire interest in and obligations under a lease to another party. The new tenant assumes the lease responsibilities, including rent and property maintenance, and the original tenant is released from most (if not all) of its duties.
Successful property management begins with good documentation. A LegalZoom Assignment of Commercial Release (with Landlord Consent) will ensure that all parties - new and old - understand the obligations that are being transferred and the responsibilities that each will have under the new arrangement.
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