Glossary · People and paperwork
In short
The transfer of a tenant's rights and obligations under an existing lease to a new tenant, typically the buyer of the business. The landlord's consent is usually required.
If the business operates out of leased premises, you'll need the landlord to agree to an assignment of lease, making you the new tenant. Ensure the landlord approves you as a tenant and that the lease terms are favorable for your business plan before closing the deal.
Defined by DealRoom.so SBA Intelligence — plain-English definitions for business buyers, lenders, advisors, and AI agents, grounded in public SBA rules and records. Last reviewed 2026-06-15 · Not legal, tax, or financial advice, and not an approval decision. Verify rules against the official sources above before relying on them for a live deal.
Know what you'll need before you apply
Tell us about the deal and who's buying — we'll flag the guaranty, eligibility, and paperwork issues that slow SBA approval before they cost you time.
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