Free Template for a Lease Assignment Form
Lease Assignments are used by a tenant to legally and effectively assign a lease agreement to another party. This assignment sets out the responsibilities the original tenant gives to the other party and usually requires consent of the landlord.
Disclaimer:This was not drafted by an attorney & should not be used as a legal document.
This Lease Assignment is entered into by and among
________________________________________________________ (the "Assignor"),
_______________________________________________________(the "Assignee"), and
FOR VALUABLE CONSIDERATION, the parties herein agree to the following terms and conditions set forth below:
1. The Landlord and the Assignor have entered into a lease agreement, dated ______________, regarding the below described premises:
2. The Assignor hereby assigns and transfers to the Assignee all of Assignor's rights and delegates all of Assignor's duties under the Lease dated_____________________________
3. The Assignee hereby accepts such assignment of rights and delegation of duties and agrees to pay all rents promptly when due and perform all of Assignor's obligations under the Lease accruing on and after the Effective Date. The Assignee further agrees to indemnify and hold the Assignor harmless from any breach of Assignee's duties hereunder.
4. The Assignor agrees to transfer possession of the leased premises to the Assignee on the Effective Date. All rents and obligations of the Assignor under the Lease accruing before the Effective Date shall have been paid or discharged. The Landlord hereby assents to the assignment of the Lease hereunder and as of the Effective Date hereby releases and discharges the Assignor from all duties and obligations under the Lease accruing after the Effective Date. 5. There shall be no further assignment of the Lease without the written consent of the Landlord.
5. This agreement shall be binding upon and inure to the benefit of the parties, their successors, assigns and personal representatives.