Assignment of Commercial Leases
- March 2nd, 2016
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Businesses often see a benefit from either getting out of their lease, or subsidizing their rent by subleasing some of their space to another business, sometimes a business that provides some tangible benefit by being in close proximity.
When a business is either looking to transfer their lease to another business (called “assigning” a lease), or rent out part of their leased space to another business (called a sublease), it is important to review their existing lease. Often times, a commercial lease contains some restrictions on doing so. The landlord will frequently have the right to refuse an assignment or sublease.
If you are considering subleasing space, assigning your lease, or taking over a commercial lease, it is important to know what, exactly, you are getting yourself into. Contact the attorneys at Finn & Eaton, P.C. in Saugus and Woburn by calling 781 484-1066 or send an email to schedule a free initial consultation.