Assignment Of Commercial Lease

Your landlord’s lease may simply not contain an assignment or sublease clause. In most states (Texas is a notable exception), you’re entitled to sublease or assign and need not ask for the landlord’s permission.

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By contrast, an assignment occurs when you transfer all your space to someone else (called an assignee) for the entire remaining term of the lease.

As with a sublet, you are free to choose your assignee and determine the rent unless your lease says otherwise.

Conversely, if the transferee passes all three, a rejection will be unreasonable.

We can also provide associated advice on the impact of environmental legislation, planning law and other statutory requirements relating to your situation.

If the lease contains no restrictions, the tenant has absolute freedom.

If the lease contains an absolute prohibition then the landlord can refuse or impose unreasonable conditions.

But there are legal and practical differences between subleases and assignments.

If you transfer just part of your leased space to another tenant while you remain on the property, on a temporary or permanent basis, it’s called a sublease.

(However, when you assign a lease, you may have less responsibility for guaranteeing nonrent duties than when you sublet.) You’ll be free of these future financial obligations only if the landlord releases you in writing.

Here are the various clauses you may find your landlord’s commercial lease.

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