assignment of lease
- The process where a tenant transfers their remaining entitlements of a rented property as stated in a lease agreement
- The tenant, due to unexpected circumstances, had to proceed with the assignment of lease to another party.
- In a scenario where the business owner has to relocate, an assignment of lease can be an option to transfer the rental rights to another entity.
- The new lessee acquired the property through an assignment of lease from the original tenant.