I entered into a 50/50 joint venture with the lessee of a commercial recording studio space and with the landlord's knowledge signed a sublease to run concurrent with the term of the other party's lease. The sublease provides that I pay half the rent and utilities to reflect my equal interest in the venture. Now the lessee wants to assign the lease to a new party. The current lease runs through next October. Does my sublease transfer to the prospective lessee? The new party seems to think he does not have to honor the terms of the sublease.
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