For New Jersey or New York business owners, commercial subleases have both advantages and disadvantages. Therefore, it is important to carefully consider both the business and legal implications of a sublease before signing on the dotted line.
Under a sublease, the existing tenant assigns some or all of their interest to a third party, known as the subtenant (or sublessee). It is important to note that the subtenant does not simply replace the original tenant. The original tenant, often referred to as the master tenant, is still the responsible party under the terms of the lease...
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