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Commercial Lease Assignment from Tenant to New Tenant Arkansas Form

Commercial Lease Assignment from Tenant to New Tenant Arkansas Form

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Instructions and help about Commercial Lease Assignment From Tenant To New Tenant Arkansas

[Music] our question today comes from a tenant who says can a new tenant take over my lease if I sell my business well it's certainly possible and and probable that a lot of companies um sell their businesses and the leases are assigned or subleased to to the new owner but I would check with your lease and check with your landlord most leases are going to have a provision that they are if the entire company sold and uh but they still might be subject to the landlord's approval uh also it may not necessarily release you as the original tenant uh from your uh liability on the lease so check the lease um check with the landlord and uh know up front what you're going to have to do we saw one uh yesterday where the landlord was asked to remove the old tenant from a personal guarant on the lease the land said look I don't have to based on the lease but I'll consider doing that if the new purchaser of the business um is of better credit or at least as g

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