Thursday, February 16, 2017

Assignments & Subleases : Land Investing 101

Okay, the secret is out.  I am currently studying for my bar exam.  In the process, I must study real property law and other areas of law that pertain to real estate and may be helpful to a real estate or land investor.  I figured since I was studying anyways, I might as well put each topic one video at a time.  I also started a YouTube channel which can be seen here.

Absent an express writing in a lease agreement, a tenant has the right to transfer their interest in the property.  If a tenant transfers their entire interest in the lease - this is called an assignment.  If the tenant transfers only a partial interest in their lease - this is called a sublease.

For example: If a tenant leasing 1000 square feet allows another to rent from him 500 square feet, this is commonly known as a sublease.  Now if the tenant has 9 months left on the lease and gives another person the right to the entire 1000 square feet for the remaining 9 months, this is known as an assignment of the lease.  Let me explain further...

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