Real Estate: Assumption Of Lease

Real Estate: Assumption Of Lease

Where the new lessee (the persons who is going to inhabit the leased property) agrees to be bound by existing terms of the lease, the lessee is said to assume the lease (or, there has been an assumption of the lease). The lessee is responsible for the lease, according to all of the terms of the lease, or all terms otherwise explicitly accepted.

 

Call Now ButtonCall Now

Pin It on Pinterest