Am I still on the hook for rent after I sell the business and move on?

Possibly, yes — assigning a lease to your buyer does not automatically end your own obligations to the landlord. In Ontario, a tenant who assigns a lease generally remains liable on the lease covenants (including rent) for the remainder of the term unless the landlord agrees to release them. Assignment changes who is entitled to occupy and use the space; it does not, by itself, erase the original tenant's contractual relationship with the landlord.

This surprises a lot of sellers, who assume that once the buyer takes over and starts paying rent, their own exposure disappears. In practice, if the buyer later defaults, the landlord can often still pursue the original tenant — you — for the shortfall, sometimes years after closing.

The fix is a formal, written release from the landlord as part of the assignment approval, not just silence or a handshake. Whether a landlord will agree to release you is a negotiating point, not a right, so it should be raised explicitly and early. A Treadstone business lawyer can help build the release into the assignment documents rather than assuming it.