Legal Blog Articles by Victor E. Kinon
Victor E. Kinon is a corporate transactions & business attorney who writes articles on corporate transactions & business, financing group, and joint ventures.
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Understanding How a Commercial Lease Assignment Works
Author: Victor E. KinonDate: August 24, 2021
While commercial landlords are often reluctant to consent to a lease assignment, COVID-19 has changed everything. With so many businesses struggling to stay afloat, landlords are more willing to consider the assignment of a lease to add to the prospect that rent payments continue and buildings remain occupied.
In basic terms, a lease assignment occurs when the current tenant to an existing lease agreement (known as the "assignor") assigns the lease rights and obligations to a third party (known as the "assignee"). A lease assignment should not be confused with a sublease, in which the existing tenant transfers by a sublease document some or all of their interest, and leased space, to a third party, known as the “subtenant” (or “sublessee”). (You can find a discussion of subleases here.)
Commercial Landlords and Tenants Must Involve Lenders in COVID-19 Issues
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How Assembly Bill No 1914 Could Change New Jersey Construction Codes
What You Need to Know About Assembly Bill No 1914 The massive 2015 fire that destroyed the Avalon at Edgewater apartments...
What You Need to Know About Exclusive Use Clauses in NJ Real Estate
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Real Estate Contract Preparation and Negotiation 101
Buying, selling or leasing real estate in Monmouth County requires a written contract. While the agreement may seem like a...
Asbury Park, New Jersey Property Development Booming
February 24, 2016
With the real estate market in the New York area becoming more expensive with less convenience and less space, New...
Demand For New Jersey Commercial Office Space On The Rise
February 23, 2016
New Jersey Commercial Office Space is hot right now! A new Jones Lang LaSalle report found that New Jersey commercial office...
Investors Are Now Going After Bergen County Commercial Real Estate
February 19, 2016
Bergen County Commercial Real Estate Is hot right now and potentially getting hotter! According to a NorthJersey.com report, vacancy rates...
Surviving the Hard Sell: The Pros and Cons of Timeshare Ownership
January 29, 2016
What are the pros and cons of timeshare ownership? Is it worth it? After taking a dive during the recession,...
Condominium Docs Must Authorize Post-Judgment Collection Fees
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Homeowners' associations in New Jersey should review their governing documents in light of a recent decision by the Appellate Division...