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Second assignment of sublease

December 31, 2012 by agribusiness in Lease agreements with 0 Comments
Second assignment of sublease is provision under US laws in which a subtenant can transfer all his right and responsibilities to another party. Assignment is a legal arrangement under which a tenant can transfer all his rights to enjoy and use the premises to another party and the second party now becomes liable to pay the rent and dues to landlord on time. In a sublease the tenant transfers a part of his rights to the other party and the other party becomes a sub-tenant. In this scenario the sub-tenant is not liable to pay the dues to landlord but to the tenant with whom the sublease has been enacted.

In Second assignment of sublease the party who has already entered into an assignment agreement with the original subleasing party assigns his rights to the third party. Adequate attention should be given to details such as rights of both parties, the period of agreement, the rent to be paid etc. and these should clearly mentioned in the agreement in order to avoid any confusion The most important consideration to be taken care while entering into such an agreement is that due consent from the original landlord of the premises has to be obtained as until then the legal validity of the arrangement remains questionable.

Second Assignment of Sublease

Second Assignment of Sublease

 

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