Assign Lease

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The tenant may request an updated disclosure statement from the landlord before the transfer of the commercial lease.

A related concept of assignment is novation wherein, by agreement with all parties, one contracting party is replaced by a new party.

While novation requires the consent of all parties, assignment needs no consent from other non-assigning parties.

An assignment may not transfer a duty, burden or detriment without the express agreement of the assignee.

The right or benefit being assigned may be a gift (such as a waiver) or it may be paid for with a contractual consideration such as money.

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