Commercial Real Estate & Leases

Assignment of Lease

Transferring a lease to another business, typically requiring the landlord's consent.

Most commercial leases require landlord consent to assign, often stated as consent not to be unreasonably withheld. Crucially, the original tenant frequently remains liable if the new tenant defaults, unless expressly released.

Why it matters: it surprises people that selling a business does not automatically end their exposure under the lease they signed.

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Editorial status: Lawkin Editorial — pending independent legal review.

Assignment of Lease — Canadian legal glossary | Lawkin — Lawkin