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Assignment of Lease Package District of Columbia Form

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Assignment of Lease Package District of Columbia Form

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hi this is robert over capitol retail if a tenant is selling their business to another tenant and this happens a lot especially with smaller uh businesses then you need to get the landlord's approval usually the lease says something like not to be unreasonably withheld oftentimes the landlord will request that both the old business owner and the new business owners stay on as guarantors of the lease a lot of this is negotiable a lot of this is dependent on the credit history of both the old tenant and the type of landlord that you're dealing with so let me show you an example right here of a tenant assignment so this is what it would look like an assignment an assumption of the lease and typically it's just outlining the terms and conditions that the landlord will agree to approve the new business owner and so you must be aware of whether there is going to be an additional guarantor required oftentimes landlords don't feel the need to release the old ten

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