Lease Assignment And Subletting Negotiation
Lease Assignment And Subletting Negotiation Lawyer Queens, NY
Assignment and subletting is the process of transferring some or all of the interest in property (created by the lease) to another. The individual lease controls a tenant’s ability to assign or sublet their lease. We have found that by assigning and subletting a lease, tenants who are no longer able to abide by the terms of the lease can reduce their liability by assigning or subletting their interest in the pre-existing lease to another tenant. Generally, the lease will require the landlord’s written consent to either assign or sublet the lease.