A tenant operating a small boutique in a retail complex in Gatineau holds a three-year commercial lease with two years remaining. The tenant wishes to sell their business, including the leasehold interest, to a new party. Which process allows the original tenant to transfer their rights and obligations under the lease to the new party, subject to landlord approval?

Question: A tenant operating a small boutique in a retail complex in Gatineau holds a three-year commercial lease with two years remaining. The tenant wishes to sell their business, including the leasehold interest, to a new party. Which process allows the original tenant to transfer their rights and obligations under the lease to the new party, subject to landlord approval?

Answer options: ✅ Lease Assignment

• Lease Subletting
• Lease Novation
• Lease Termination

Correct answer: Lease Assignment

Explanation: A lease assignment involves the complete transfer of the tenant's rights and obligations under the lease to a new party, where the original tenant typically remains secondarily liable unless specified otherwise, and usually requires landlord consent as per the Civil Code of Québec.