Free Assignment of Lease Form

Is a new tenant to taking over your lease? Make it happen with our assignment of lease template here.

What You Should Know Before Using Our Free Lease Assignment Form

When we stamp our names on a lease agreement, everyone wants it to be a smooth sailing affair with a happy ending. Alas, things won't always turn out the way we want it - Businesses can go belly-up for a commercial lease... while family or work pressures may force a tenant out of a residential lease.

But all is not lost - You can still salvage your existing lease, and that's where our assignment of lease agreement steps into the picture. Instead of tearing up the lease agreement and having everyone up in arms, what can be done is to replace the original tenant with a brand new one for the remaining duration of the lease (while keeping the lease terms and conditions unchanged).

Now the tenant is often the one who wants out... but whether he or she is able to break free with a lease assignment agreement is another story. Thankfully, it takes just 2 steps to find out if you are allowed to assign your lease:

1. What does your local landlord tenant law have to say on the matter? Is the landlord's consent required for an assignment or does the tenant get to decide?

2. What if your local law doesn't even mention assignment of leases and rents? Then it's time to dig up your lease agreement because you'll have to go along with whatever that's written in it.

For more good advice on lease assignments and whether you are better off with an assignment vs a sublease, Click here for a complete assignment of lease guide.

*Make sure this form complies with your local real estate laws before using it. If you have any doubts, you can ask a real estate lawyer online.

Assignment of Lease

1. THE PARTIES:

Assignor Name: _________________________

Assignor Address:
___________________________________________________________________________

Assignee Name: _________________________

Assignee Address:
___________________________________________________________________________

2. THE PREMISES:

Street Address:
___________________________________________________________________________

Premises Description:
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________

3. THE LEASE:

On the _____ day of _______________, 20__, the Landlord _________________________ of address
___________________________________________________________________________
leased the Premises described above to the Assignor as tenant. (herein referred to as the "Lease" and a copy of which is attached hereto)

4. LEASE ASSIGNMENT:

For value received, the Assignor hereby assigns and transfers the Lease, together with all his/her rights, title and interest in and to the Lease and Premises to the Assignee, subject to the terms and conditions contained in the Lease.

The Assignor covenants that this interest is free from all encumbrances and that he/she has performed all duties and obligations under the terms and conditions of the Lease.

The Assignee agrees to pay all payments due after the effective date of this Assignment, and to assume and perform all duties and obligations under the terms and conditions of the Lease.

EXECUTED this _____ day of _______________, 20__.


Assignor Name: _________________________

Assignor Signature: _________________________

Date: _______________


Assignee Name: _________________________

Assignee Signature: _________________________

Date: _______________


CONSENT OF LANDLORD

The Landlord hereby consents to the above Assignment and releases the Assignor from all obligations and liabilities arising from the Lease after the effective date of this Assignment.


Landlord Name: _________________________

Landlord Signature: _________________________

Date: _______________

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