Assignment and Assumption of Lease Agreement
(Commercial Lease) (SC)

Summary

This assignment and assumption of lease agreement template transfers a tenant's interest under a South Carolina commercial lease to a third party. This template includes practical guidance, drafting notes, and alternate and optional clauses. This template assumes that the tenant is assigning all of its rights and obligations under a commercial lease for the remainder of the lease term. If the tenant / assignor will be assigning less than all of its interest under the lease, use a sublease instead of an assignment. For a sublease agreement template, see Sublease Agreement. Prior to assigning its lease, the tenant / assignor should review the lease to determine whether the landlord's consent is required. For more information on assignment and assumption of leases, see Lease Assignments. For information on commercial leasing in South Carolina, see Commercial Real Estate Leasing (SC). For further information on commercial leasing, see Industrial Leasing Resource Kit, Office Leasing Resource Kit, Restaurant Leasing Resource Kit, and Retail Leasing Resource Kit. For more on drafting and negotiating commercial leases, see Industrial Lease Agreements, Office Lease Agreements, Restaurant Lease Agreements, and Retail Lease Agreements.