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Assignment of Lease Package Illinois Form

Assignment of Lease Package Illinois Form

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hello I'm Robert Todd and I'm here to talk about the difference between a sublease and an assignment of lease basically there are three parties involved in this equation there is the owner landlord there is the original tenant and there is the new tenant if you can get the owner to allow you to assign the lease you as the original tenant are off the hook on the other hand if the owner landlord will not allow you to do that and you must sublease you as the original tenant are simply leasing your right to the new tenant and you're still on the hook and responsible for the original lease so between the two you're better off if you can get an assignment of lease however your original lease May prohibit that and so you're going to have to check your lease to see what is permitted in your particular case I'm Robert Todd and thank you for watching

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