Property Management
An 'assignment' of a commercial lease in Utah allows:
AThe tenant to sublease part of the space to a third party
BThe tenant to transfer all their lease rights and obligations to a new tenant✓ Correct
CThe landlord to reassign the lease to a different property
DEither party to terminate the lease with 30 days' notice
Explanation
Assignment transfers the entire leasehold interest from the original tenant (assignor) to a new tenant (assignee). Unlike subletting (where the original tenant remains liable), in a full assignment the original tenant may be released if the landlord agrees.
People Also Study
Related Utah Questions
- In Utah, a lease assignment by a commercial tenant:Property Management
- A Utah agent who represents both the landlord and the prospective tenant in a commercial lease transaction is engaged in:Agency
- A Utah commercial lease's 'gross-up' provision allows the landlord to:Property Management
- In Utah, a commercial tenant who remains in possession after a lease expires without the landlord's consent is a:Property Management
- A Utah commercial lease with a 'co-tenancy clause' allows the tenant to:Property Management
- A Utah landlord may ask a tenant requesting an emotional support animal (ESA) to:Fair Housing
- A Utah commercial lease is 3,500 sq ft at $24/sq ft/year with annual 3% rent escalations. What is the rent in year 2?Real Estate Math
- Under the Fair Housing Act, a landlord who changes lease terms or imposes additional requirements on a tenant of a particular religion is guilty of:Fair Housing
Key Terms to Know
Right of First Refusal
A contractual right giving a party the opportunity to match any offer received before the owner can accept it from a third party.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Study This Topic
Practice More Utah Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Utah Quiz →