Commercial Lease Assignment from Tenant to New Tenant - South Carolina 2025

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This document is a Commercial Lease Assignment agreement between a Landlord, a former Tenant (Assignor), and a new Tenant (Assignee). It outlines the assignment of the lease rights and obligations from the Assignor to the Assignee, including the assumption of rent payments. The document also addresses the potential joint and several liability of the Assignor for any damages or unpaid rent caused by the Assignee.
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Individuals may take new jobs in new cities, and companies may go out of business or sell their enterprises to a third party. Whatever the reason, tenants can transfer their original commercial lease to new parties by completing an assignment of the lease.
Either party may appeal in an ejectment case and such appeal shall be heard and determined as other appeals in civil cases from the magistrates court. SECTION 27-37-130. Bond required to stay ejectment on appeal.
SECTION 27-35-130. Notice required for tenants at will and domestic servants. All tenants at will and domestic servants shall vacate the premises occupied upon twenty days written notice.
Section 27-33-50 of the 1976 Code is amended to read: Section 27-33-50. (A)(1) Unless otherwise agreed in writing, a tenant has sole financial responsibility for gas, electric, water, sewerage, or garbage services provided to the premises the tenant leases, and a landlord is not liable for a tenants account.
Lease assignment refers to the process of transferring the lease from the original tenant (assignor) to a new tenant (assignee). This method allows the original tenant to transfer their rights and obligations under the lease to another party, effectively exiting the lease before its expiration.

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People also ask

A South Carolina eviction does not allow a landlord to evict a tenant without good reason. As long as the tenant does not violate any rules, they can stay until their rental period ends.
A notice of assignment of lease, which is a form signed by both the assignor-landlord and the assignee, or new landlord, is one way to give notice. Another way is to send a letter on the landlords letterhead. Either way, the notice must include the new landlords address and how rent is to be paid.
Limits on Rent Increases in South Carolina The maximum allowable rent increase in South Carolina is 7% plus the 12-month Consumer Price Index (CPI) for all urban consumers in the South, as published by the Bureau of Labor Statistics. For example, if the CPI is 3%, landlords could raise rents by 10% (7% + 3% CPI).

Related links

South Carolina Code 27-35-60

All tenancies of real estate other than agricultural lands shall be deemed from month to month unless there be an agreement otherwise.

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2017 Publication 521

Jan 3, 2018 This publication explains the deduction of certain moving expenses to a new home because you started or changed job locations. It includes the

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Landlord and Tenant in South Carolina

by JC Bruton 1948 Cited by 2 There is no statutory or other legal restriction on the right of the tenant to sublet the premises or assign the lease there- for. A

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