A Commercial Sublease is a real estate agreement between two parties, in which the tenant (the sublessor) transfers some or all of the rights and obligations of their existing lease to a new tenant (the sublessee). It allows a tenant to transfer their lease to a new tenant without the permission of the landlord. The tenant retains responsibility for the overall performance of the lease and is ultimately responsible to the landlord for the lease obligations. Types of Commercial Subleases include a Gross Sublease, in which the sublessor remains responsible for all the lease obligations, and a Net Sublease, in which the sublessor is only responsible for a portion of the lease obligations. A Triangular Sublease is similar to a Net Sublease, but involves three parties. An Assignment Sublease is when the original tenant assigns their tenancy to a new tenant without the consent of the landlord.
Commercial Sublease
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