Does dissolving a corporation automatically cancel its leases and other ongoing obligations?

No. Dissolving a corporation doesn't automatically cancel a lease or other ongoing contractual obligations the corporation had — those obligations simply become part of the corporation's affairs to be dealt with, either before dissolution as part of properly winding up the business, or afterward as leftover property or liability that the forfeiture framework or a revival may need to address. A landlord or other counterparty isn't left with nothing, but they also aren't automatically released from the lease just because the tenant corporation stopped existing.

In practice, this creates real complications. A landlord facing a dissolved corporate tenant may need to pursue a personal guarantor if one exists, or navigate the process for dealing with the dissolved tenant's remaining interest in the lease, rather than assuming the space is simply free and clear. On the corporation's side, if there's remaining value in a lease or other obligation that wasn't dealt with before dissolution, it doesn't just vanish.

Because loose ends like unresolved leases are exactly the kind of thing that should be wound up before filing for dissolution, corporations closing down should confirm every ongoing obligation has been properly addressed first.