A tenant operating a small boutique in a Calgary commercial building has 18 months remaining on a triple net (NNN) lease. They wish to allow another business to take over their entire lease obligations. Which of the following best describes the process required for the original tenant to transfer all their rights and responsibilities under the lease to a new tenant?

Question: A tenant operating a small boutique in a Calgary commercial building has 18 months remaining on a triple net (NNN) lease. They wish to allow another business to take over their entire lease obligations. Which of the following best describes the process required for the original tenant to transfer all their rights and responsibilities under the lease to a new tenant?

Answer options:

• The tenant should pursue a sublease agreement. ✅ The tenant must request a lease assignment from the landlord.
• The tenant is required to simply vacate the premises with notice.
• The tenant could offer to amend the existing lease with the landlord.

Correct answer: The tenant must request a lease assignment from the landlord.

Explanation: A lease assignment involves the complete transfer of a tenant's rights and obligations under a lease to a new tenant, typically requiring landlord consent. A sublease involves the original tenant retaining primary responsibility while allowing another party to use the space.