Section 20 General Considerations

• Library: Real Estate Leasing and Landlord-Tenant Actions and Remedies 2011

With respect to the assignment of existing leases when the terms of the lease are not entirely clear as to the continuing liability of the assigning tenant, any assignment document should contain a plain statement addressing the release or continuing liability of the tenant and assumption by the assignee. For example:

To induce the landlord to consent to this assignment, the assignee does hereby assume and agree to perform all of the obligations of the tenant under the lease, and the assignor agrees that...