Assignment of commercial lease question
1. under the consent to assignment section of the form that is signed by the landlord, it states the following: The undersigned Lessor hereby consents to the above assignment of Lease, with release of the original Lessee from obligation under this Lease.
2. under the assumption of release form signed. by new lessee, it states In consideration of the above assignment and written consent of the Lessor thereto, I hereby assume and agree to be bound by all of the terms and conditions of the said Lease, which the Lessee therein agreed to be made and performed, and to pay the rental therein provided.I acknowledge receipt of the Lease, Security Deposit and Inventory Report for the building
3 attorney answers
I agree with my colleagues as to the general nature of volunteer AVVO lawyers' responses. From what you posted, it appears you are being released. To be sure, get an attorney to examine the entire document.
"When you pay money to a lawyer, you have a lawyer and the lawyer has a client" Abraham Lincoln.
If my answer is "BEST ANSWER" and/or "HELPFUL" please acknowledge and mark it so. I appreciate your comments and feedback. I have been practicing law since 1976 serving thousands of clients with successful legal experience with cases like yours. My response is often general in nature because all facts are unknown to me. Specific answers require knowledge of all the relevant facts of your case. Follow up questions are invited. You are not my client and I am not your attorney. This advice is given in the spirit of the AVVO platform and is based on general legal principles. You become a client when you enter into a formal retainer agreement with me.
OK, let me tell you that business people and companies do not hire attorneys because they simply have not stumbled onto this website as you have. This forum is appropriate for specific questions about general legal principles. No one is going to tell you whether you will or will not incur liabilities based on a couple of paragraphs of information you provide and which information is vague and only touches on things. You are being extremely Pennywise pound foolish if you are trying to do all of this on your own without a CPA and an attorney representing you.
Please DO NOT message or phone me with further questions or comments as the discussions would be outside this forum and would not be visible to the public (the only exception to this being for serious prospective clients). If you have additional follow up questions or additional facts to add, re-draft them into a new question and repost it. My responses on this website DO NOT constitute a consultation, nor do they establish an attorney-client relationship. Only a written retention agreement signed by client and myself will establish an attorney-client relationship.
I highly doubt that any attorney on this site will actually provide such specific advice on your question without officially being retained and reviewing the entire document and the underlying lease. For example, is there also a personal guaranty that you were asked to sign? I think you should retain counsel to represent you in this matter.
This response does not create an attorney-client relationship and is not intended to provide legal advice for your specific situation.