When a Lease Is Assigned, the Assignee Becomes the Sole

question 49

True/False

When a lease is assigned, the assignee becomes the sole obligor for rent payments, and the original lessee is discharged from the lease.

---

Definitions:

Credit Bureau

An agency that collects and maintains individual credit information, providing credit reports to creditors to aid in the decision-making process.

Cease-And-Desist

A legally enforceable order issued by a court or government agency directing a person or entity to stop an alleged illegal activity.

Fair Credit Reporting Act

Federal law that regulates the collection, dissemination, and use of consumer credit information, ensuring accuracy, privacy, and fairness.

Federal Trade Commission

A government agency established in 1914 to prevent unfair business practices and promote consumer protection.