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OTHER NAMES Assignment of Lease Lease Assignment Form Lease Assignment Agreement

What is a Lease Assignment?

If you're renting, there are many reasons why you might need to leave the property before the end of the lease. If you're currently leasing a property, and would like someone else to take over the lease, you can use a Lease Assignment, which lets you transfer responsibilities to another tenant.

You can use a Lease Assignment to outline the terms for assigning the responsibilities of a lease to someone else. You need to make sure that the landlord has given his or her consent for the Lease Assignment to go into effect. The terms of assignment, consent of the lessor, and acceptance by the assignee are covered in this Lease Assignment, including the length of the assignment, consent of the person taking over the lease, and acceptance by you, the current lease holder. A Lease Assignment can be a simple way to legally transfer the responsibility for a lease when you have to move.

When to use a Lease Assignment:

You want to transfer your lease to someone else.
You'd like to take over someone's lease agreement.
You're a landlord and up for your tenant transferring their lease.

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Lease Assignment

This Assignment is made on by , , , (Assignor), to , , , (Assignee).

For value received, Assignor assigns and transfers to Assignee that Lease, dated , executed by Assignor as Lessee and by , , , regarding the property located at , , , hereinafter referred to as the Lease together with all his right, title, and interest in and to the lease and premises, subject to all the conditions and terms contained in the Lease, to have and to hold from , until the present term of the Lease expires on .

A copy of the Lease is attached hereto and made a part hereof by reference.

Assignor covenants that Assignor is the lawful and sole owner of the interest assigned hereunder; that this interest is free from all encumbrances; and that Assignor has performed all duties and obligations and made all payments required under the terms and conditions of the Lease.

Assignee agrees to pay all rent due after the effective date of this assignment, and to assume and perform all duties and obligations required by the terms of the Lease.

CONSENT OF LESSOR

I, , Lessor named in the above assignment of lease, on , consents to that assignment of the Lease executed by me on . I also consent to the agreement by Assignee to assume after , the payment of rent and performance of all duties and obligations as set forth in the Lease, and release , Lessee and Assignor, from all duties and obligations under the Lease, including the payment of rent, after , and accept Assignee as Lessee in the place of , Lessee and Assignor.

Executed on the date first written above with intent to be legally bound.

ASSIGNOR