lease assignment contract

This residential lease assignment is between , an individual (the " Original Tenant ") and an individual (the " New Tenant ").

On or about , the Original Tenant and (the " Landlord ") entered into a lease agreement (the " Lease ").

The Lease covers the property located at , , , and more particularly described as follows: (the " Premises ").

Under section of the Lease, the Original Tenant is permitted to assign its interest in the Lease, with the consent of the Landlord.

The Original Tenant wishes to assign to the New Tenant's his or her rights in, and delegate all of his or her obligations under, the Lease, and the New Tenant wishes to accept this assignment.

The parties therefore agree as follows:

1. ASSIGNMENT.

The Original Tenant assigns to the New Tenant of all his or her rights in, and delegates to the New Tenant all of his or her obligations under, the Lease. This transfer will become effective as of (the " Effective Date "), and will continue until the present term of the Lease ends.

2. ASSUMPTION OF RIGHTS AND DUTIES.

After the Effective Date, the New Tenant shall assume all rights and duties under the Lease, including the obligation to pay rent under the Lease when it is due.   The Original Tenant will have no further obligations under the Lease   The Original Tenant will remain bound to the Landlord under the Lease, notwithstanding the assignment . However, the Original Tenant remains responsible for obligations accruing before the Effective Date.

3. REIMBURSEMENT.

On or before the Effective Date, the New Tenant shall pay to the Original Tenant, which is the sum of:

  • (a)  the security deposit held by the Landlord under the Lease; and
  • (b)  the rent or other deposits paid in advance by the Original Tenant for any period after the effective date of this assignment.

4. INDEMNIFICATION.

  • (a) The Original Tenant shall indemnify the New Tenant from all damages, liabilities, expenses, claims, or judgments (including interest and reasonable attorneys' fees) (collectively, "Claims" ) arising out of the Original Tenant's failure to perform his or her obligations under the Lease before the Effective Date.
  • (b) The New Tenant shall indemnify the Original Tenant from all Claims relating to the Lease, except if those costs arise from the Original Tenant's failure to perform his or her duties under the Lease before the Effective Date.
  • (c) The New Tenant shall indemnify the Original Tenant from all Claims attributable to the acts or omissions of the New Tenant or his or her agents, contractors, or employees with respect to the Premises or any activities on the Premises. This indemnification will survive the termination of the Lease and this assignment.

5. CONTINUING EFFECTIVENESS OF LEASE.

This assignment is made on the understanding that all other terms of the Lease remain in full effect, including the prohibition against further assignments and subleases without the Landlord's express written consent.

6. ORIGINAL TENANT'S REPRESENTATIONS.

The Original Tenant represents that he or she:

  • (a) has the power and authority to enter into and carry out this assignment;
  • (b) has not previously assigned his or her rights under the Lease;
  • (c) is the lawful and sole owner of the interests assigned under this assignment;
  • (d) the interests assigned under this assignment are free from all encumbrances;
  • (e) except for the Landlord and the Original Tenant, there are no parties in possession or occupancy of the Premises or any part of them, and there are no parties with possessory rights on the Premises or any part of them; and
  • (f) has performed all obligations and made all required payments under the Lease.

7. CONDITION OF PREMISES.

The New Tenant has examined and inspected the Premises and accepts them "as is" and in its present condition with all faults. Except as provided in this assignment, the Original Tenant makes no representations, covenants, or guaranties about the status, nature, or condition of the Lease or the Premises.

8. INTERPRETATION .

In interpreting the language of this assignment, the parties shall be treated as having drafted this assignment after meaningful negotiations. The language in this assignment will be construed as to its fair meaning and not strictly for or against either party.

9. GOVERNING LAW .

  • (a) Choice of Law. The laws of the state of govern this assignment (without giving effect to its conflicts of law principles).
  • (b) Choice of Forum. Both parties consent to the personal jurisdiction of the state and federal courts in County, .

10. AMENDMENTS.

No amendment to this assignment will be effective unless it is in writing and signed by a party or its authorized representative.

11. COUNTERPARTS; ELECTRONIC SIGNATURES.

  • (a) Counterparts. The parties may execute this agreement in any number of counterparts, each of which is an original but all of which constitute one and the same instrument.
  • (b) Electronic Signatures . This agreement, agreements ancillary to this agreement, and related documents entered into in connection with this agreement are signed when a party's signature is delivered by facsimile, email, or other electronic medium. These signatures must be treated in all respects as having the same force and effect as original signatures.

12. SEVERABILITY.

If any one or more of the provisions contained in this assignment is, for any reason, held to be invalid, illegal, or unenforceable in any respect, that invalidity, illegality, or unenforceability will not affect any other provisions of this assignment, but this assignment will be construed as if those invalid, illegal, or unenforceable provisions had never been contained in it, unless the deletion of those provisions would result in such a material change so as to cause completion of the transactions contemplated by this assignment to be unreasonable.

13. NOTICES.

  • (a) Writing; Permitted Delivery Methods . Each party giving or making any notice, request, demand, or other communication required or permitted by this assignment shall give that notice in writing and use one of the following types of delivery, each of which is a writing for purposes of this assignment: personal delivery, mail (registered or certified mail, postage prepaid, return-receipt requested), nationally recognized overnight courier (fees prepaid), facsimile, or email.
  • (b) Addresses. A party shall address notices under this section to a party at the following addresses:
  • If to the Original Tenant:
  • If to the New Tenant:
  • (c) Effectiveness. A notice is effective only if the party giving notice complies with subsections (a) and (b) and if the recipient receives the notice.

14. WAIVER.

No waiver of a breach, failure of any condition, or any right or remedy contained in or granted by the provisions of this assignment will be effective unless it is in writing and signed by the party waiving the breach, failure, right, or remedy. No waiver of any breach, failure, right, or remedy will be deemed a waiver of any other breach, failure, right, or remedy, whether or not similar, and no waiver will constitute a continuing waiver, unless the writing so specifies.

15. ENTIRE AGREEMENT.

This agreement constitutes the final agreement of the parties. It is the complete and exclusive expression of the parties' agreement about the subject matter of this agreement. All prior and contemporaneous communications, negotiations, and agreements between the parties relating to the subject matter of this agreement are expressly merged into and superseded by this agreement. The provisions of this agreement may not be explained, supplemented, or qualified by evidence of trade usage or a prior course of dealings. Neither party was induced to enter this agreement by, and neither party is relying on, any statement, representation, warranty, or agreement of the other party except those set forth expressly in this agreement. Except as set forth expressly in this agreement, there are no conditions precedent to this agreement's effectiveness.

16. HEADINGS.

The descriptive headings of the sections and subsections of this assignment are for convenience only, and do not affect this agreement's construction or interpretation.

17. EFFECTIVENESS.

This assignment will become effective when all parties have signed it. The date this assignment is signed by the last party to sign it (as indicated by the date associated with that party's signature) will be deemed the date of this assignment.

18. NECESSARY ACTS; FURTHER ASSURANCES.

Each party shall use all reasonable efforts to take, or cause to be taken, all actions necessary or desirable to consummate and make effective the transactions this assignment contemplates or to evidence or carry out the intent and purposes of this assignment.

[SIGNATURE PAGE FOLLOWS]

Each party is signing this agreement on the date stated opposite that party's signature.

ORIGINAL TENANT

[PAGE BREAK HERE]

LANDLORD'S CONSENT AND RELEASE

As Landlord under the Lease, I hereby consent to this assignment of the Lease, and to the New Tenant's assumption of the Original Tenant's obligations under the Lease, including the obligation to pay rent when it is due. As of the Effective Date, I release the Original Tenant from all liability for obligations (including rent payments) under the Lease. However, the Original Tenant remains primarily obligated as tenant under the Lease and I do not waive or relinquish any rights under the Lease against either the Original Tenant or the New Tenant.

Attach a copy of the Lease as Exhibit A

Free Assignment of Residential Lease Template

Simplify lease transfers with an assignment of residential lease agreement. with the landlord's approval, smoothly transfer your lease responsibilities to a new tenant while documenting the arrangement comprehensively..

Complete your document with ease

What's an assignment of residential lease?

Related templates

Assignment of Agreement

Assignment of Agreement

Transfer work responsibilities efficiently with an assignment of agreement. Facilitate a smooth transition from one party to another.

Assignment of Commercial Lease

Assignment of Commercial Lease

Transfer your commercial lease to a new tenant smoothly. Create an assignment of a commercial lease to clearly articulate the new tenant's rights, responsibilities, and obligations.

Cohabitation Agreement

Cohabitation Agreement

Step into a new chapter of your life securely with a cohabitation agreement. Start your commitment on the right track with your significant other.

Land Co-ownership Agreement

Land Co-ownership Agreement

Define the rights and responsibilities of a property owner with a land co-ownership agreement. Safeguard investments and clarify land usage guidelines.

Landlord Consent to Assignment

Landlord Consent to Assignment

Facilitate lease transfers with a landlord consent to assignment form. Provide tenant and landlord information, along with the rental property address, and grant permission for the lease transfer easily.

Landlord Consent to Sublease

Landlord Consent to Sublease

Obtain approval from the landlord to sublet a space with a sublease agreement. Use our template to clearly lay out the lease terms, obligations of the new tenant, payment, and other essential details.

Free Lease Assignment Agreement Template for Microsoft Word

Download this free Lease Assignment Agreement template as a Word document to easily assign a lease to another party with consent from the landlord.

Lease Assignment Agreement

THIS ASSIGNMENT OF TENANCY AGREEMENT dated this [Insert date]

[Insert name] (the “Assignor”)

– AND-

[Insert name] (the “Assignee”)

A. This is an agreement (the “Assignment”) to assign a residential tenancy agreement in real property according to the terms specified below.

B. The Assignor wishes to assign and transfer to the Assignee that tenancy agreement (the “Tenancy Agreement”) dated June 11, 2020, and executed by the Assignor as tenant and by _________________________ as landlord (the “Landlord”).

IN CONSIDERATION OF the Assignor agreeing to assign and the Assignee agreeing to assume the Tenancy Agreement for the Premises, and other valuable consideration, the receipt and sufficiency of which is hereby acknowledged, both parties agree to keep, perform and fulfill the promises, conditions and agreements below:

1. The Tenancy Agreement governs the rental of the following described premises (the “Premises”) to the Assignor: ______________________________________________

Assigned Tenancy Agreement

2. The Assignor assigns and transfers to the Assignee all of the Assignor’s right, title, and interest in and to the Tenancy Agreement and the Premises, subject to all the conditions and terms contained in the Tenancy Agreement.

Effective Date

3. This Assignment takes effect on June 11, 2020 (the “Effective Date”), and continues until the present term of the Tenancy Agreement expires on June 11, 2020.

Assignor’s Interest

4. The Assignor covenants that:

a. the Assignor is the lawful and sole owner of the interest assigned under this Assignment; b. this interest is free from all encumbrances; and c. the Assignor has performed all duties and obligations and made all payments required under the terms and conditions of the Tenancy Agreement.

Breach of Tenancy Agreement by Assignee

5. Consent to this Assignment will not discharge the Assignor of its obligations under the Tenancy Agreement in the event of a breach by the Assignee.

6. In the event of a breach by the Assignee, the Landlord will provide the Assignor with written notice of this breach and the Assignor will have full rights to commence all actions to recover possession of the Premises (in the name of the Landlord, if necessary) and retain all rights for the duration of the Tenancy Agreement provided the Assignor will pay all accrued rents and cure any other default.

Governing Law

7. It is the intention of the parties that this Assignment, and all suits and special proceedings under this Assignment, be construed in accordance with and governed, to the exclusion of the law of any other forum, by the laws of the State of New South Wales, without regard to the jurisdiction in which any action or special proceeding may be instituted.

Miscellaneous Provisions

8. This Assignment incorporates and is subject to the Tenancy Agreement, a copy of which is attached hereto, and which is hereby referred to and incorporated as if it were set out here at length. The Assignee agrees to assume all of the obligations and responsibilities of the Assignor under the Tenancy Agreement.

9. This Assignment will be binding upon and inure to the benefit of the parties, their successors, assigns, personal representatives, beneficiaries, executors, administrators, and heirs, as the case may be.

10. All rents and other charges accrued under the Tenancy Agreement prior to the Effective Date will be fully paid by the Assignor, and by the Assignee after the Effective Date. The Assignee will also be responsible for assuming and performing all other duties and obligations required under the terms and conditions of the Tenancy Agreement after the Effective Date.

11. There will be no further assignment of the Tenancy Agreement without the prior written consent of the Landlord.

IN WITNESS WHEREOF the Assignor and Assignee have duly affixed their signatures under hand and seal on this [Insert date]

SIGNED BY THE ASSIGNOR

_____________________________ Assignor: _________________________

in the presence of (Name of witness) _______________________

(Signature of witness) _____________________________

SIGNED BY THE ASSIGNEE _____________________________ Assignee: _______________________

in the presence of (Name of witness) ___________________

(Signature of witness) _______________________________

CONSENT OF LANDLORD

The Landlord in the above Assignment of Tenancy Agreement executed on [Insert date] consents to that Assignment. The Landlord also agrees to the Assignee assuming after [Insert date] the payment of rent and performance of all duties and obligations as provided in the Tenancy Agreement. Dated: [Insert date]

Landlord: _________________________

Related Documents

Advertising agreement, arbitration agreement, barter agreement, business sale agreement.

Lease Assignment Agreement Free

A Lease Assignment Agreement is a short and straightforward document for transferring a residential or commercial lease interest from one tenant to another.

Lease Assignment Agreement preview

Template Overview

A Lease Assignment Agreement is a short and straightforward document for transferring a residential or commercial lease interest from one tenant to another. To be more specific, this Agreement is used when the original tenant wants to terminate the contract but has found someone to replace him.

The Lease Assignment Agreements contain only basic information: names and the data of the parties, assignment's start date, name of the landlord, and other required information. 

The Lease Assignment Agreement is different from a Sublease Agreement because it also assigns all of the lease interest. In the meantime, with a sublease, the tenant is still responsible for everything, and the sublease can be concluded for less than all the interest on the property. The Lease Assignment passes on all the interest and replaces the old tenant with the new one.

One of the most important things to know when making a Lease Assignment Agreements is that leasing usually requires the landlord's consent for the transfer. That's why both parties have to be entirely sure that the landlord agrees on all the terms before making an agreement.

You fill out a form. The document is created before your eyes as you respond to the questions.

At the end, you receive it in Word and PDF formats. You can modify it and reuse it.

How to use this template

This document is a useful tool to help you smoothly outline all the necessary facts and responsibilities to create a valid lease assignment. This way, one party, called the Assignor, will transfer its rights and obligations as a tenant (including paying rent and living in the property) to another party (called the Assignee).

The document provides only the necessary information needed: the names of new and old tenants, the name of the landlord, the address of the property, and the dates of lease and the assignment.

The document also contains information on whether the Assignor will remain liable if the Assignee fails to fulfill his obligations.

Applicable law

In the US, individual state laws govern Leases Agreements.

The Environmental Protection Agency governs the disclosure of lead-based paint warnings in all rentals in the States. If a lead-based paint disclosure has not been included in the lease, it must be included in the assignment. Distinct from that, however, required disclosures and lease terms will be based on the laws of the state, and sometimes county, where the property is located.

Ready to build your document from this template?

Ask for support

legalscrolls.com

Join our newsletter.

.

  • Integrations
  • Real Estate
  • Legality Guide
  • Signature Generator
  • Get Started Now — It’s Free!
  • Sign Up for Free
  • Lease Assignment Agreement

Lease Assignment Agreement

A Lease Assignment Agreement is a legal document that transfers one party's obligations under a lease to another party. The new tenant (or assignee) takes on the assignor’s lease responsibilities, such as rent and maintenance, while the original tenant is released from their duties. With a free Lease Assignment Agreement template from Jotform Sign , you can transfer your lease obligation to a new tenant in minutes. Just customize your document in a few quick clicks and send it out via link or email to be signed on any device. You’ll receive a notification and a finalized version of the document once it’s complete.

Want to make changes to this Lease Assignment Agreement template? Just drag and drop to add or remove signature fields, customize form fields, and make other design changes. You can even add an automated signing order for multiple parties! Leases are already pesky enough — ease up the paperwork with a free online Lease Assignment Agreement.

More templates like this

Simple One Page Lease Agreement Template - Sign Templates

Simple One Page Lease Agreement Template

A lease agreement is a contract between a landlord and a tenant that outlines the terms and conditions of a property rental. A lengthy lease agreement can mean that the tenant does not read through and know what they are agreeing to — so make the process simpler with this Simple One Page Lease Agreement Template that your tenants can fill out and sign on any device.Need to make changes to this Simple One Page Lease Agreement Template? Use our drag-and-drop builder to update the terms, add or remove fields, include your logo, and change other design elements in a few easy clicks. Once your Simple One Page Lease Agreement is good to go, share it with tenants via email and watch as each completed document is automatically converted into a polished PDF. Collect legally binding signatures with Jotform Sign today.

Payment Agreement Template - Sign Templates

Payment Agreement Template

A payment agreement is a document between a lender and a borrower that outlines the terms and conditions of a loan, including the amount, payment schedule, and penalties. If you’re lending money, you can create professional payment agreements — plus fill them out and sign them on any device — with this free payment agreement form template from Jotform.You can update the design of this payment agreement template in just a few clicks with our drag-and-drop builder. You can add or remove fields, choose new fonts or text colors, set up a unique signing order, and customize automated email notifications. You can also gather e-signatures anytime and anywhere to streamline your loan process with Jotform Sign.

Partnership Agreement Template - Sign Templates

Partnership Agreement Template

A partnership agreement is a formal contract between two or more people who agree to run a for-profit business together. Partnership agreements are necessary for establishing terms and conditions that will help resolve any future disputes. Whether you’re a contract attorney or about to enter into a business partnership yourself, save time writing partnership agreements with our free Partnership Agreement Template. Simply customize the design to reflect the details of your partnership — then share it online to collect legally binding e-signatures on any device.Using our drag-and-drop builder, you can customize this Partnership Agreement Template to include the specific terms of your agreement, such as the length of the partnership, ownership percentage, distribution of profits and losses, management responsibilities, and what to do in the event of a withdrawal or death. You can also add your company’s official logo or change fonts and colors to match those of your business. With your partnership agreements taken care of, you can spend less time dealing with legal paperwork and more time growing your business. By streamlining your signature process with Jotform Sign , you can save time better spent elsewhere.

These templates are suggested forms only. If you're using a form as a contract, or to gather personal (or personal health) info, or for some other purpose with legal implications, we recommend that you do your homework to ensure you are complying with applicable laws and that you consult an attorney before relying on any particular form.

  • Sign Templates /
  • Agreement /

Agreement Templates

Let tenants sign your property lease agreements with Jotform Sign. Great for landlords or real estate agents. Fill out and sign in seconds. Easy to customize.

Lending or borrowing money? Make sure your terms are clear and fit your needs by using Jotform’s payment agreement template.

Generate partnership agreements online fast with this free template. Easy to customize. Collect e-signatures on any device. Save time with Jotform Sign.

Short Term Rental Agreement - Sign Templates

Short Term Rental Agreement

Let tenants fill out and sign rental agreements on any device. Easy to customize. Great for independent landlords. Convert into PDFs upon completion.

Consulting Agreement Template - Sign Templates

Consulting Agreement Template

Create a signable consulting agreement. Great for consultants and independent contractors. Easy to customize and share. Converts to PDF. Save time and paper.

Employee Equipment Agreement - Sign Templates

Employee Equipment Agreement

Create an employee equipment agreement in seconds. Works great on any device. Android and iOS compatible. Easy to customize and share. Get instant notifications.

Freelance Contract Template - Sign Templates

Freelance Contract Template

Hire your next freelance contractor seamlessly with Jotform Sign. Works on any desktop, tablet, or mobile device. Drag and drop to customize. Share or embed.

Non Disclosure Agreement Template - Sign Templates

Non Disclosure Agreement Template

Create a professional NDA for all your company’s needs. Signable from any device — desktop, tablet, and mobile friendly. Legally binding. No coding knowledge needed.

Sponsorship Proposal Template - Sign Templates

Sponsorship Proposal Template

This sponsorship proposal template helps you attract and convince your leads to be part of your event as a sponsor. It contains a front page, cover letter for the leads, company overview, information about the event and terms.

Equipment Rental Agreement Template - Sign Templates

Equipment Rental Agreement Template

Create an equipment rental agreement in seconds. Easy to customize and share. Converts to PDF. Collect e-signatures from any smartphone, tablet, or desktop.

Purchase Agreement Template - Sign Templates

Purchase Agreement Template

Finalizing a sale? Use Jotform’s purchase agreement template to ensure you get the right information with a professionally designed document.

Free Loan Agreement Template - Sign Templates

Free Loan Agreement Template

Generate loan agreements online. Save time and be more efficient. Reduce messy paperwork. Easy to customize and share. Fill out and e-sign on any device.

Sales Agreement Template - Sign Templates

Sales Agreement Template

Create a legally-binding sales agreement contract in seconds.. Collect and manage signatures from one convenient place. Easy to customize. No coding needed.

Brand Ambassador Contract Template - Sign Templates

Brand Ambassador Contract Template

Hiring a brand ambassador to promote your product or service? Use Jotform’s brand ambassador contract template to outline the partnership terms.

Maintenance Agreement Template - Sign Templates

Maintenance Agreement Template

Create a maintenance agreement between two parties. Great for landlords and tenants. Easy to customize. Works on any device. Go paperless and automate your workflow.

Interview Consent Agreement - Sign Templates

Interview Consent Agreement

Gather interview consent forms online. Can be filled out and signed on any device. Converts to a PDF instantly. Easy drag-and-drop customization.

Consignment Agreement Template - Sign Templates

Consignment Agreement Template

Build your Consignment Agreement in just minutes using this Consignment Agreement PDF Template. Copy this template to your Jotform account and start filling up the form. Upon submission, you have your PDF document immediately!

Divorce Settlement Agreement Template - Sign Templates

Divorce Settlement Agreement Template

Create a divorce settlement agreement for your mediation needs. Works on smartphone, tablet, and desktop devices. Converts to PDF. No coding needed.

Confidentiality Agreement Template - Sign Templates

Confidentiality Agreement Template

Create a confidentiality agreement to protect sensitive business information. Drag and drop to customize. Converts to PDF. Signable on any device. No coding.

Florida Condo Lease Agreement - Sign Templates

Florida Condo Lease Agreement

Generate condo lease agreements in Florida. Easy-to-customize template. Share via email. Fill out and sign on any device. Save time with online forms.

Supply Agreement - Sign Templates

Supply Agreement

Create a customizable supply agreement with Jotform Sign. Drag and drop to customize. Fill out and e-sign from any device. Easy to share. No coding.

Trust Agreement - Sign Templates

Trust Agreement

Create and customize a trust agreement with e-signatures. Create once, send multiple times. Works on all device types. Design in seconds.

HVAC Installation Contract Template - Sign Templates

HVAC Installation Contract Template

Create a professional HVAC installation contract in seconds. No coding or design skills needed. Great for contractors. Fill out and sign from any device.

Boat Slip Lease Agreement - Sign Templates

Boat Slip Lease Agreement

Create a boat slip lease agreement in seconds with Jotform Sign. No coding knowledge needed. Works great on any device. Converts to a PDF document.

About Agreement Templates

Written agreements are important in detailing a specific transaction made between two or more parties. Despite not always being legally enforceable in a court of law, they can often prevent disputes. From partnership agreements to separation agreements , Jotform's selection of Agreement Sign Templates will guide you in creating a paper trail for any type of business agreement . Your formal agreements will automatically be saved as secure PDFs that can easily be downloaded, shared with all involved parties, or printed for future reference.

These ready-made templates are formatted to provide contact information, terms and conditions, and instructions to resolve conflicts. You can collect electronic signatures with Adobe Sign or DocuSign and accept payments with integrated gateways such as PayPal or Square. Using Jotform’s PDF Editor , you can customize the template by rearranging the layout and rewriting the text to better specify each party’s obligations and protect the rights of all involved.

Frequently Asked Questions

1) what are agreement templates.

Agreement templates are documents that outline terms, conditions, and details about a transaction between two or more parties. These templates provide a structure that can be customized to suit various types of agreements, such as leases, payments, partnerships, consultancies, freelance work, and more. Agreement templates help individuals and businesses save time while providing a consistent set of terms for transactions. They may also provide some protection in cases of issues or disputes.

Agreement templates are especially useful for companies or individuals that lack the expertise and time required to draft agreements from scratch. They minimize the risk of errors, save money, and give you time back to focus on growing your business.

2) The subtypes of agreement templates

There are agreement templates for virtually every type of business agreement out there! Here are some of the more common use cases for agreements.

  • Services : A service agreement is a document between a service provider and a client that outlines the terms and conditions of a service and covers details such as roles, cost, quality standards, etc.
  • Leases : Lease agreements are contracts between a landlord and a tenant that outline the terms and conditions of a property rental. These agreements establish roles and responsibilities of both parties, so that they know what’s expected of them.
  • Purchases : A purchase agreement is a document that finalizes the details of a pending sale between a buyer and seller. This agreement comes into play after the buyer and seller have arranged the sale of an item.
  • Equipment rentals : An equipment rental agreement is a document that outlines the terms, responsibilities, and obligations of both the owner and renter in an equipment rental.
  • Payments : A payment agreement is a document between a lender or provider and a borrower or client that outlines the terms and conditions of a loan, payment plan, or purchase. This typically includes the amount, payment schedule, and penalties.
  • Maintenance : A maintenance agreement is a contract between a maintenance company and a customer that details the terms and conditions for scheduled maintenance services.

3) The key elements of agreement templates

Agreement templates vary according to the agreement type and circumstance, but typically they include these key elements.

  • Essential information : This section includes names of the parties involved, the effective date of the agreement, contact phone numbers and emails, etc.
  • Terms and conditions : This section lists different terms, conditions, and provisions relevant to the agreement, such as the timeline for project completion, how disputes will be resolved, and more.
  • Responsibilities and obligations : This section includes all necessary information about the roles, responsibilities, and obligations of all parties involved.
  • Payment terms : This section outlines the price and payment plan for the service or exchange being provided.
  • Miscellaneous : This section lists any other clauses or terms relevant to the agreement.
  • Signatures : This section provides space for signatures from all parties.

4) What makes an agreement different from a contract?

The primary difference between an agreement and a contract has to do with legal enforceability. An agreement is used to describe a mutual arrangement or understanding between parties — which can be either formal or informal. Agreements can take the form of documents, but they can also be made via email or in-person meetings.

By contrast, a contract is a more formal and legally binding document that is enforceable in court. It typically requires elements like clear clauses and terms, written records, and the establishment of a relationship between parties. While agreements may not carry the same weight in the legal system, they can still be useful in business partnerships. When choosing between an agreement and a contract, the nature of the arrangement will help you determine which one to use.

5) How do I create an agreement with Jotform?

You can create an agreement with Jotform in no time using our ready-made templates. Navigate to Agreement Templates in our form template library, and choose a template that fits your purpose and needs. Use our simple drag-and-drop form builder to customize the agreement with your own terms and conditions, elements of your personal branding, different fonts and colors, widgets and integrations, and much more. When your agreement looks good to go, you can share it with your clients via email, link, or QR code. Plus, collect signatures on any device and save your agreement as a PDF in the data storage platform of your choice. It’s that easy!

Your account is currently limited to {formLimit} forms.

Go to My Forms and delete an existing form or upgrade your account to increase your form limit.

Lease Assignment Agreement

Choose the state where the property is located.

LEASE ASSIGNMENT AGREEMENT

State of Alabama

This Lease Assignment Agreement (hereinafter "Assignment") is entered into and made effective as of ________ by and between the current lessor, hereinafter referred to "Assignor": ________ and the following new lessor, hereinafter referred to "Assignee": ________ .

Assignor and Assignee may be collectively referred to as the "Parties."

WHEREAS, Assignor is the current lessor of a residential property ("Property") located at the following address:

WHEREAS, Assignor wishes to assign and transfer to Assignee the lease agreement ("Lease") that Assignor originally signed on ________ together with the landlord ("Landlord") of the Property: ________ ;

WHEREAS, the Landlord of the Property has agreed to this Assignment;

WHEREAS, Assignee wishes to accept the assignment of the Lease.

NOW, therefore, in consideration of the obligations and covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties do contract and agree as follows:

Article 1 - ASSIGNMENT:

Under the terms and conditions herein, Assignor hereby assigns and transfers to Assignee all right, title, and interest in and to the Lease and the Property.

As denoted above in this Assignment, this Assignment is to become effective on ________ and last until the end of the Lease term on ________ .

Article 2 - ASSIGNOR'S COVENANTS:

Assignor hereby warrants and covenants that Assignor may lawfully assign the Lease interest hereunder and that there are no further encumbrances on the interest. Assignor further warrants and covenants that Assignor is up-to-date with all payments, charges, fees, duties, and/or obligations under the Lease.

Article 3 - 85552855'5 828552585:

88882222 525282 525228 22 252 588 5222 525 22525 2228 552 52225 252 222282882 5522 22 2588 8888222222. 88882222 2552525 525228 22 588522 525 2252252 588 22525 552828 525/25 28882528228 58 252 82 52858525 52525 252 22582.

Article 4 - LEASE COPY & INCORPORATION:

A copy of the original Lease is attached to this Assignment. This Assignment incorporates and is subject to the original Lease. There shall not be any further assignment of the Lease without the Landlord's advance written consent.

Article 5 - BREACH:

Assignor hereby agrees that this Assignment does not discharge Assignor of any obligations under the Lease in the event of a breach by Assignee. In such circumstance, Assignor will be provided notice of the breach by Landlord and thereafter may commence any and all actions to recover possession of the Property for the duration of the Lease, as long as Assignor thereafter continues to pay rent and cure any breach by Assignee.

Article 6 - GENERAL PROVISIONS:

a) BINDING: This Assignment will inure to the benefit of and be binding upon the respective successors, assigns, heirs, executors and/or administrators of both Parties.

b) SEVERABILITY: If any part of sub-part of this Assignment is deemed invalid by court order, judgment or other operation of law, the remaining parts and sub-parts of this agreement shall remain valid and enforceable to the fullest extent.

c) GOVERNING LAW: This Lease is governed, construed, and interpreted by and through the laws of the State of Alabama .

Sign: ________________________________

Date: ________________________________

Print: ________________________________

LANDLORD CONSENT

I, ________ , the Landlord named in the above Assignment to be effective on ________ , hereby consent to that Assignment. I further agree that after ________ the Assignee in the above Assignment will be responsible for all rent and other obligations under the Lease. I hereby release the Assignor from all duties and obligations under the Lease, unless Assignee breaches, in which case Assignor must take repossession and pay all charges and accrued rent until the end of the Lease term.

I accept Assignee as Lessee in place of Assignor.

HOW TO CUSTOMIZE THE TEMPLATE

Answer the question, then click on "Next."

The document is written according to your responses - clauses are added or removed, paragraphs are customised, words are changed, etc.

At the end, you will immediately receive the document in Word and PDF formats. You can then open the Word document to modify it and reuse it however you wish.

Lease Assignment Agreement

Jump to section.

A lease assignment agreement is a legally binding contract outlining the terms and conditions of transferring a lease from one party to another in one place. This means the assignee becomes the new tenant and assumes all the rights, obligations, and liabilities under the original lease. Lease assignments are commonly used in real estate transactions when a tenant wants to transfer their lease to another party before the lease term expires. We will discuss the lease assignment agreements' purpose, key elements, and other relevant aspects.

Key Elements of a Lease Assignment Agreement

A lease assignment agreement includes several key elements outlining the terms and conditions of the lease transfer. These elements may vary depending on local laws and specific circumstances but generally include the following:

  • Parties: The lease assignment agreement should clearly identify the parties involved, including the original tenant (assignor), the new tenant (assignee), and the landlord.
  • Property: The agreement should specify the property subject to the lease assignment, including the address, unit number, and relevant details.
  • Terms: The agreement should state the lease assignment's effective date, the original lease's remaining term, and any renewal or termination provisions.
  • Rights and Obligations: The agreement should outline the rights and obligations of the assignor, assignee, and landlord, including rent payments, maintenance responsibilities, and any other lease terms that will carry over to the assignee.
  • Consent: In most cases, the lease assignment agreement requires the landlord's written consent. The agreement should specify the conditions and process for obtaining landlord consent.
  • Indemnification: The agreement may include provisions for indemnifying the landlord against any losses or damages resulting from the lease assignment.
  • Governing Law : The agreement should specify the governing law and jurisdiction applicable to any disputes or legal matters related to the lease assignment.

Legal Implications of Lease Assignment Agreements

Lease assignments have legal implications for all parties involved. It is important to understand the potential legal risks and obligations associated with lease assignments. For tenants, it may be necessary to review the original lease agreement and seek legal advice to ensure compliance with the terms and conditions of the lease assignment. Landlords should carefully review and approve lease assignments to protect their rights and interests. In some jurisdictions, landlords may have the right to reject a proposed lease assignment for valid reasons.

lease assignment contract

Nicholas M.

lease assignment contract

Practical Tips for Managing Lease Assignment Agreements

Lease assignments can be complex, and it is important for tenants and landlords to approach them with caution. Here are some tips for navigating lease assignments:

For Tenants

  • Review the Original Lease Agreement: Understand the terms and conditions of the original lease before entering into a lease assignment agreement.
  • Seek Legal Advice: Consider consulting with a real estate attorney to ensure compliance with local laws and protect your rights and interests.
  • Obtain Written Consent from the Landlord: Follow the process outlined in the lease assignment agreement to obtain written consent from the landlord before proceeding with the assignment.
  • Communicate with all Parties Involved: Keep open communication with the assignee, assignor, and landlord throughout the process to avoid misunderstandings or disputes.
  • Fulfill Obligations under the Original Lease: Even after the lease assignment, the assignor may still be responsible for fulfilling their obligations under the original lease until the effective date of the assignment.

For Landlords

  • Review the Lease Assignment Carefully: Carefully review the proposed lease assignment agreement, including the terms and conditions, rights and obligations of the assignor and assignee, and any indemnification provisions.
  • Require Written Consent: Insist on obtaining written consent from the assignor and assignee before allowing the lease assignment to proceed, as this protects your rights and interests as a landlord.
  • Verify Financials and Credentials of Assignee: Conduct thorough due diligence on the proposed assignee's financials and credentials to ensure they can fulfill the lease obligations.
  • Update Lease Documentation: Once the lease assignment is approved, update the lease documentation to reflect the new tenant (assignee) and provide copies to all parties involved.
  • Communicate with all Parties Involved: Maintain open communication with the assignor, assignee, and any property management or legal professionals involved in the lease assignment process to ensure a smooth transition.

Potential Risks and Considerations

There are potential risks and considerations that tenants and landlords should be aware of when it comes to lease assignments. These may include:

  • Non-Compliance with the Original Lease: If the assignee fails to comply with the terms and conditions of the original lease, the assignor may still be held liable for any breaches.
  • Landlord's Right to Reject: In some jurisdictions, landlords may have the right to reject a proposed lease assignment for valid reasons, such as the assignee's inability to meet financial obligations or lack of appropriate credentials.
  • Indemnification Provisions: The lease assignment agreement may include indemnification provisions that hold the assignor and assignee responsible for any losses or damages resulting from the lease assignment.
  • Legal Disputes: Disputes may arise during the lease assignment process, such as disagreements over the terms and conditions, consent requirements, or other related matters.
  • Local Laws and Regulations: Lease assignments are subject to local laws and regulations, which may vary by jurisdiction. It is important to ensure compliance with applicable laws and seek legal advice.

Key Terms for Legal Assignment Agreements

  • Consideration: Refers to the value or benefit each party receives in exchange for entering into the assignment agreement.
  • Assignment: The transfer of rights or obligations from one party (assignor) to another (assignee) as agreed upon in the assignment agreement.
  • Consent: The requirement for obtaining permission or agreement from relevant parties, such as the original contracting parties, for the assignment to occur.
  • Indemnity : The legal protection provided by the assignor to the assignee against any potential losses, liabilities, or claims arising from the assignment.
  • Governing Law: The jurisdiction or legal system that governs the interpretation, validity, and enforcement of the assignment agreement, which is typically specified in the agreement itself.

Final Thoughts on Legal Assignment Agreements

A lease assignment agreement is a legally binding contract allowing tenants to transfer their lease rights and responsibilities to another party. It is important for both tenants and landlords to carefully review and understand the terms and conditions of a lease assignment, seek legal advice if needed, and maintain open communication throughout the process. By following the appropriate steps and considering potential risks and considerations, lease assignments can be a useful tool for tenants and landlords to manage their lease agreements effectively.

However, you need the help of a professional lawyer to ensure you do not end up messing up a lease assignment agreement. So, ensure you approach an experienced attorney who is well-versed in the field.

If you want free pricing proposals from vetted lawyers that are 60% less than typical law firms, click here to get started. By comparing multiple proposals for free, you can save the time and stress of finding a quality lawyer for your business needs.

Need help with a Lease Assignment Agreement?

Meet some of our lease assignment agreement lawyers.

Tina R. on ContractsCounsel

15 years for legal experience; expertise in contracts, healthcare, ERISA, physicians, financial services, commercial contracts, employment agreements, etc. I am adept at all contracts and can provide you with efficient and quality services. I have worked at a law firm, financial services company, consulting ,and non-profit.

Kristen R. on ContractsCounsel

Transactional and Employment Attorney and Small Business Owner. I do inside counsel work from the outside. I demystify the law for my clients.

Matt B. on ContractsCounsel

Matt practices law in the areas of commercial finance, contract law, business & corporate law, and residential and commercial real estate (with a particular emphasis on retail shopping centers and office buildings). He has extensive experience in negotiating and structuring complex commercial loan, asset acquisition, asset disposition, leasing and real estate transactions. Matt additionally works on various general matters for clients such as forming LLCs and corporations, preparing various LLC and corporation documents and drafting and reviewing various types of contracts and agreements for clients and providing advice regarding same. Matt provides clients with extensive and timely communication on their matters and ensures that his clients are well represented and highly satisfied with their legal representation and the work product provided. Matt offers all potential clients a free initial consultation to discuss their legal matters prior to engaging his firm to represent them. Prior to opening his law firm Matt worked for many years in the New York City office of a large international law firm where he counseled large multi-national businesses, financial institutions, investment groups and individuals on highly sophisticated business, financial and real estate transactions. Matt provides his clients with diligent legal representation on their matters with a very personal approach.

Jonathan H. on ContractsCounsel

Jonathan H.

I’m an attorney focusing my practice on concierge corporate and intellectual property law for startups and high-growth companies. I also serve as outside General Counsel to several businesses in various sectors. Since founding my practice I've worked with hundreds of clients across a variety of industries. My experience as a former General Counsel of a premier edtech company gives me unique insight into the challenges my clients face and how to resolve them efficiently and cost-effectively.

George F. on ContractsCounsel

The Law Office of George K. Fuiaxis, from the very beginning in 2002, has built a reputation with its clients as an unmatched, diligent, hands on law practice that is always on duty to find the best course of action for its clients. With a supreme pledge of exceptional service to its clients in the areas of Real Estate (Commercial & Residential), Loan Modifications, Intellectual Property, Corporate Law & Business Transactions, Wills, Trusts & Estates, the Law Office of George K. Fuiaxis creates solutions for the many faceted problems faced by its clients. The office represents several various clients, including well known lending institutions, foreign and domestic corporations, sellers and buyers of residential and commercial real estate, residential and commercial landlords and tenants, well known restaurant and business owners, automobile dealerships, airline companies, well known fashion, sports and entertainment industry individuals and corporations, information technology (IT) startups and well known IT companies.

Chris J. on ContractsCounsel

I'm a business law generalist with over 24 years of experience, including as in-house General Counsel, as outside counsel through my own firm and as an attorney in an Am Law 100 law firm. My employers and clients uniformly appreciate my ability to (i) negotiate and close transactions quickly and effectively, and (ii) to make the complex simple. Among other things, I can efficiently assist you on entity formation, governance, and structure; HR issues; mergers and acquisitions; and the negotiation and drafting of all types of commercial contracts. I'm the proud recipient of multiple Martindale-Hubbell Client Distinction Awards given only to the top 5% of attorneys for quality of service.

Gregory W. on ContractsCounsel

Strategic thinking business minded Outside General Counsel here to help you with your company. I have been able to help guide business owners from startup through series A, B, & C funding and ultimately IPO's. Regardless of your plans I am here to help you succeed as you grow your business.

Find the best lawyer for your project

Real estate lawyers by top cities.

  • Austin Real Estate Lawyers
  • Boston Real Estate Lawyers
  • Chicago Real Estate Lawyers
  • Dallas Real Estate Lawyers
  • Denver Real Estate Lawyers
  • Houston Real Estate Lawyers
  • Los Angeles Real Estate Lawyers
  • New York Real Estate Lawyers
  • Phoenix Real Estate Lawyers
  • San Diego Real Estate Lawyers
  • Tampa Real Estate Lawyers

Lease Assignment Agreement lawyers by city

  • Austin Lease Assignment Agreement Lawyers
  • Boston Lease Assignment Agreement Lawyers
  • Chicago Lease Assignment Agreement Lawyers
  • Dallas Lease Assignment Agreement Lawyers
  • Denver Lease Assignment Agreement Lawyers
  • Houston Lease Assignment Agreement Lawyers
  • Los Angeles Lease Assignment Agreement Lawyers
  • New York Lease Assignment Agreement Lawyers
  • Phoenix Lease Assignment Agreement Lawyers
  • San Diego Lease Assignment Agreement Lawyers
  • Tampa Lease Assignment Agreement Lawyers

ContractsCounsel User

Commercial lease agreement

Location: arizona, turnaround: a week, service: contract review, doc type: lease agreement, page count: 8, number of bids: 4, bid range: $400 - $800, lease agreement review - commercial, location: south carolina, turnaround: less than a week, page count: 12, number of bids: 6, bid range: $470 - $785, user feedback:, related contracts.

  • Addendum to Lease
  • ALTA Statement
  • Apartment Lease
  • Apartment Rental Agreement
  • Assignment of Lease
  • Boundary Line Agreement
  • Brokerage Agreement
  • Building Contract
  • Building Lease
  • Business Office Lease Agreement

other helpful articles

  • How much does it cost to draft a contract?
  • Do Contract Lawyers Use Templates?
  • How do Contract Lawyers charge?
  • Business Contract Lawyers: How Can They Help?
  • What to look for when hiring a lawyer

Want to speak to someone?

Get in touch below and we will schedule a time to connect!

Find lawyers and attorneys by city

Home

Trending News

Epstein Becker and Green, P.C. Law Firm

Related Practices & Jurisdictions

  • Health Law & Managed Care
  • Real Estate
  • Administrative & Regulatory
  • All Federal

lease assignment contract

In our ongoing series of blog posts, we examine key negotiating points for tenants in triple net health care leases. We also offer suggestions for certain lease provisions that will protect tenants from overreaching and unfair expenses, overly burdensome obligations, and ambiguous terms with respect to the rights and responsibilities of the parties. These suggestions are intended to result in efficient lease negotiations and favorable lease terms from a tenant’s perspective. In our first two blog posts, we considered the importance of negotiating  initial terms  and renewal terms and operating  expense provisions . This latest blog post in our series focuses on negotiating assignment and subletting provisions.

It is imperative for a commercial tenant, particularly a private equity-owned health care tenant, to include provisions in a lease which allow the tenant the flexibility to assign and sublease the commercial space without the necessity of having to obtain the landlord’s consent and/or to meet burdensome landlord conditions.

Most leases prohibit transfers by assignment and subletting or require landlord’s prior written consent subject to meeting certain burdensome conditions. In addition, landlords often include a “change of control” provision which provides that sale of a controlling interest is deemed a transfer requiring landlord consent. A health care tenant looking for flexibility for reorganization or internal transfer subject to private equity control will want to push back on change of control provisions and will want to ensure that their lease allows for certain permitted transfers that do not require landlord consent. Carving out “permitted transfers” customarily includes transfers to: (i) an affiliate of the named tenant under the lease (meaning, any entity, directly or indirectly, which controls, is controlled by or is under common control with tenant); (ii) a successor entity created by merger, consolidation or reorganization of tenant; or (iii) an entity which shall purchase all or substantially all of the assets or a controlling interest in the stock or membership of tenant. If the tenant is a management services organization (MSO), the lease should also include explicit landlord permission for a sublease between the MSO and the provider that will occupy the leased premises.

Landlords may accept the concept of permitted transfers but often seek to impose certain conditions to allowing such transfers. Certain conditions on permitted transfers are reasonable, such as requirements for advance notice, that the proposed permitted transferee assume all obligations under the lease, that the permitted transferee operate only for the permitted use set forth in the lease, and that a copy of the transfer document be provided to landlord. However, other conditions, such as requiring a net worth test for the assignee or financial reporting requirements, can be burdensome and serve to undermine the concept of permitted transfers without landlord consent. We advise our clients in these instances to push back or limit these conditions as much as possible.

Other common assignment and subletting provisions should expressly not apply to permitted transfers. These include recapture provisions which allow a landlord to terminate the lease and recapture the space, excess profit provisions which provide that any excess profits realized as the result of a transfer will be shared between landlord and tenant, and administrative fees and reimbursements to landlord which are often charged to tenants in connection with an assignment or subletting request. Restrictions on transfers should not apply to guarantor entities. Often with private equity, the guarantor is the parent entity and cannot be restricted by a landlord as to transfer, restructuring or reorganization at the top of its organization.

In the case of transfers that do not fall within the definition of “permitted transfers” and require landlord consent, a tenant will want to include language that landlord will not unreasonably withhold, condition, or delay such consent. Other tenant protections should also be considered, including a cap on administrative and review fees reimbursable by tenant to landlord, a reasonably short time period for landlord to approve or disapprove a request (i.e., 30 days) or be deemed to have approved, a reasonably short time period for landlord to exercise recapture rights or be deemed to have approved, and a provision that excess profits will be shared equally rather than all belonging to landlord.

Negotiation of assignment and subletting terms is critical for tenants, particularly with respect to private equity-owned health care tenants. The goal for tenants in negotiating these points is to provide flexibility for addressing future financial and operational needs. As with other highly negotiated lease terms, we recommend addressing assignment and subletting provisions in detail in advance in the letter of intent. This makes expectations of the parties clear, saves time and money by avoiding protracted negotiations, and results in an overall efficient lease negotiation process.

In our next post, we will cover the importance of negotiating maintenance and repair terms and will offer suggestions for limiting a tenant’s exposure.

Current Legal Analysis

More from epstein becker & green, p.c., upcoming legal education events.

Foley and Lardner LLP Law Firm

Sign Up for e-NewsBulletins

IMAGES

  1. 26 Free Commercial Lease Agreement Templates ᐅ TemplateLab

    lease assignment contract

  2. Free Lease Assignment Forms

    lease assignment contract

  3. Commercial Lease Assignment from Tenant to New Tenant

    lease assignment contract

  4. 50+ SAMPLE Assignment of Lease in PDF

    lease assignment contract

  5. Lease Assignment Agreement

    lease assignment contract

  6. Lease Assignment Agreement

    lease assignment contract

VIDEO

  1. Presentations contract and estimating ASSIGNMENT 1 (Payment to kontraktor and interim certificates)

  2. PVL3702 LAW OF CONTRACT ASSIGNMENT 1 2024 PA CONTINUATION part 2

  3. Rent Stabilized Lease Assignment!! 450 West 42nd Street !!

  4. Handling Requests for Commission Discounts in Business Sale Transaction

  5. AVAILABLE RESTAURANT FOR SALE IN FORT LAUDERDALE, FL

  6. Maximizing Profits in Real Estate: Navigating Funding, Double Closings, and Assignments

COMMENTS

  1. Free Lease Assignment Agreement (US)

    The Assignor: this is the tenant (s) listed on the property's current lease (the master lease) who, using the Lease Assignment Form, is transferring their rights and obligations from themselves to another tenant. The Assignee: this is the tenant who is taking over the original tenant's (the assignor's) rights and obligations.

  2. Lease Assignment Agreement

    Download a fillable template for a Lease Assignment Agreement, a document that transfers the rights and obligations of a tenant to another party. Learn the basics, differences with sublease, and applicable law for this type of agreement.

  3. Assignment of Lease: Definition & How They Work (2023)

    The assignment of lease is a title document that transfers all rights possessed by a lessee or tenant to a property to another party. The assignee takes the assignor's place in the landlord-tenant relationship. You can view an example of a lease assignment here .

  4. Free Assignment of Lease Form

    Learn how to create a lease assignment form for residential or commercial properties. A lease assignment allows a tenant to transfer the lease to someone else with the landlord's approval.

  5. Lease Assignment Agreement: All You Need to Know

    A lease assignment agreement is a legally binding contract outlining the terms and conditions of transferring a lease from one party to another in one place. This means the assignee becomes the new tenant and assumes all the rights, obligations, and liabilities under the original lease. Lease assignments are commonly used in real estate ...

  6. Free Lease Assignment Template & FAQs

    A Lease Assignment is a legally binding agreement that allows a tenant to transfer their lease obligations to another tenant. Lease Assignments can be useful when the original tenant needs to move and wants someone else to take over the lease. A Lease Assignments can be used to transfer either a residential or commercial lease agreement, and ...

  7. Free Assignment of Residential Lease Template

    This residential lease assignment is between , an individual (the "Original Tenant") and an individual (the "New Tenant").. On or about , the Original Tenant and (the "Landlord") entered into a lease agreement (the "Lease").. The Lease covers the property located at , , , and more particularly described as follows: (the "Premises").. Under section of the Lease, the Original Tenant is permitted ...

  8. Lease Assignment Agreement Template: Customize in Minutes

    A lease assignment agreement is a contract between a tenant and a third party. By creating this document, the tenant can assign or transfer their interests and obligations in the lease to another party for the remaining lease period. It spells out the terms and conditions of the transfer and the responsibilities of the parties involved.

  9. Lease Assignment Agreement (United States) Form

    A Lease Assignment Agreement: Allows the original tenant (the assignor) to transfer their remaining lease obligations to a new tenant (the assignee) Specifies the conditions of the assignment, such as obtaining the landlord's consent. Notes whether the assignor is liable for breaches made to the lease by the assignee.

  10. Lease Assignment: Definition and Examples (2023)

    What is Lease Assignment? Lease Assignment is the transfer of the rights and obligations of a lease agreement from one party to another. It involves the transfer of the tenant's rights and responsibilities under the lease to a new tenant, such as the payment of rent and other obligations under the lease agreement.

  11. Free Lease Assignment Agreement Template for Microsoft Word

    A. This is an agreement (the "Assignment") to assign a residential tenancy agreement in real property according to the terms specified below. B. The Assignor wishes to assign and transfer to the Assignee that tenancy agreement (the "Tenancy Agreement") dated June 11, 2020, and executed by the Assignor as tenant and by ...

  12. Lease Assignment Agreement Form

    The lease assignment agreement can offer you financial relief by helping you assign those lease obligations to a new tenant. Streamlined Process: A lease assignment agreement involves less paperwork. It is a very straightforward process. Also, it is easy to draft, as you can see from the lease assignment agreement template.

  13. Landlord's Consent to Lease Assignment Form (US)

    The original tenant should prepare the Lease Assignment Agreement because the contract is between the assignor and the assignee. The landlord is not a party to this agreement. The original tenant should attach the Landlord's Consent to Lease Assignment to the Lease Assignment, along with a copy of the original lease.

  14. Lease Assignment Agreement

    A Lease Assignment Agreement is a short and straightforward document for transferring a residential or commercial lease interest from one tenant to another. To be more specific, this Agreement is used when the original tenant wants to terminate the contract but has found someone to replace him. The Lease Assignment Agreements contain only basic ...

  15. Guide To A Commercial Lease Assignment Agreement

    A commercial lease assignment agreement is a formal legal contract that gives the leaseholder, also known as the assignor, the ability to transfer responsibilities and rights to another party, known as the assignee. For example, let's say you own a thriving fashion boutique in New York under a long-term commercial lease.

  16. Understanding How a Commercial Lease Assignment Works

    Lease Assignment 101. In basic terms, a lease assignment occurs when the current tenant to an existing lease agreement (known as the "assignor") assigns the lease rights and obligations to a third party (known as the "assignee"). A lease assignment should not be confused with a sublease, in which the existing tenant transfers by a ...

  17. Lease Assignment Agreement: Templates & Samples

    What is a Lease Assignment Agreement. A lease assignment means that an existing tenant, also known as the assignor, has transferred its interest in a lease to a different tenant, the assignee. This is different from a sublease. In a sublease agreement, the original tenant acts as a landlord and allows a new tenant to use the property, but the ...

  18. Lease Assignment Agreement

    A Lease Assignment Agreement is a legal document that transfers one party's obligations under a lease to another party. The new tenant (or assignee) takes on the assignor's lease responsibilities, such as rent and maintenance, while the original tenant is released from their duties.

  19. How To Handle A Landlord Assignment Of Lease?

    Draft the landlord assignment of lease form: Prepare a legally precise landlord assignment of lease form outlining the terms of the transfer. Ensure this document aligns with any clauses related to the assignment in the original lease. Sign the agreement: All involved parties should review and sign the landlord assignment of lease form.

  20. Lease Assignment Agreement

    Article 1 - ASSIGNMENT: Under the terms and conditions herein, Assignor hereby assigns and transfers to Assignee all right, title, and interest in and to the Lease and the Property. As denoted above in this Assignment, this Assignment is to become effective on ________ and last until the end of the Lease term on ________.

  21. Lease Assignment Agreement: All You Need to Know

    A lease assignment agreement is a legally binding contract outlining the terms and conditions of transferring a lease from one party to another in one place. This means the assignee becomes the new tenant and assumes all the rights, obligations, and liabilities under the original lease. Lease assignments are commonly used in real estate ...

  22. Navigating Lease and Assumption Agreements

    A lease assignment and an assumption agreement are mouthfuls, but they are essential in real estate and leasing transactions. Essentially, this agreement is a legal setup wherein a tenant (the assignor) hands over the lease and obligations to another party (the assignee).It's much like handing over the reins of a team to a new leader; the team remains the same, but the responsibilities and ...

  23. Consenting to assign a commercial lease: what ...

    If the tenant's lease agreement is silent regarding assignments, the tenant is free to assign without the landlord's consent. If there is no reference in the lease to such consent not being unreasonably withheld or delayed, the landlord is under an implied duty not to unreasonably withhold its consent as outlined in section 19(1) of the ...

  24. Negotiating Assignment and Subletting Provisions in Health Care L

    Negotiation of assignment and subletting terms is critical for tenants, particularly with respect to private equity-owned health care tenants. The goal for tenants in negotiating these points is ...

  25. Requirements for Assignment of Lease To New Owners

    To facilitate the process of creating an assignment of the lease to the new owner form, you can rely on a readily available lease assignment agreement template. This helps ensure all the necessary fields are covered, and the document is legally compliant.