Generally, no. Leases that are assignable and were personally guaranteed also typically require the Seller (the transferor) to remain as a secondary personal guarantor if the Buyer (the transferee) defaults on their financial obligations. This ongoing liability is generally limited to the remainder of the current lease term, and excludes any future options to renew. Also, the landlord must usually pursue the Buyer to the fullest extent of the law before attempting to collect from the Seller. A good Broker will employ several strategies to persuade the Landlord to waive this responsibility, but it is generally unavoidable when it was agreed to in the original lease.