Asked by EZEKIEL LABRADOR on May 02, 2024
Verified
If Gil assigns his lease to Jim, Gil has no further obligations to his landlord.
Assigns
Individuals or entities to whom rights or properties are legally transferred or assigned.
Further Obligations
Additional duties or responsibilities that may be required from a party subsequent to the completion of a particular transaction or event.
- Understand the legal differences between the transfer of leases and subleasing agreements.
Verified Answer
NG
Nicolette GutierrezMay 07, 2024
Final Answer :
False
Explanation :
While Gil may transfer his lease to Jim, he is still responsible for any obligations and liabilities under the original lease agreement with the landlord unless the landlord releases him from those obligations.
Learning Objectives
- Understand the legal differences between the transfer of leases and subleasing agreements.