Lease Assignment Agreement
Hand your lease over to an incoming tenant, with the landlord's position and the money between you recorded.
Transfer a tenant's lease rights and duties to someone else.
- Personal & business / Legal document
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Key features
The lease and the assignment date
Identifies the lease and every amendment, with the date from which the incoming tenant takes over.
Landlord's consent
Whether the lease requires it, whether obtained, and what happens if it is not given by a date.
Who is responsible for what
The assignee takes on the lease from the date; the assignor stays responsible for the period before, and for later only as the landlord agrees.
Money between the tenants
Apportioned rent and utilities, how the deposit is dealt with, any price for the assignment and what it covers.
Handover and confirmations
Fixtures left or removed, a signed record of condition and meter readings, and each side's confirmations.
About this document
A lease assignment transfers a tenant's lease to a new tenant, so the incoming tenant takes over the rights and obligations from a set date. It deals with the landlord's consent, what each side is responsible for before and after, apportioning rent, the deposit, the price between the two tenants, fixtures and the condition at handover.
This blank form is signed by the outgoing tenant, the incoming tenant and the landlord. Whether the outgoing tenant is released, or stays liable, depends on what the landlord agrees and on the lease, and is a blank in the form. The lease and state law control whether consent is needed.
Is this document right for you?
Useful when
- You are leaving a lease early and someone will take it over
- A business is taking over another's premises
- You want the landlord's position recorded clearly
Commonly used by
- Tenants handing over a lease
- Incoming tenants and businesses
- Landlords agreeing a change of tenant
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Alternatives
These are separate documents, for different jobs.
- Landlord's Consent to Lease AssignmentRecord a landlord's consent to a lease assignment.View document
- Sublease agreementsRent out all or part of a place you're renting.View document
- Early Termination of LeaseAgree to end a lease before its scheduled end date.View document
- General Contract AssignmentTransfer your rights and duties under a contract to someone else.View document
When to use this
- A tenant moves away and a friend takes the lease
- A shop is sold and the lease passes with it
- A landlord agrees to release the outgoing tenant
What happens next
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More in Lease Amendment & Assignment
- Lease renewal agreementsExtend an existing lease on agreed terms.View document
- Lease amendment agreementsChange the terms of a lease already in place.View document
- Lease AddendumAdd terms or conditions to an existing lease.View document
- Landlord's Consent to Lease AssignmentRecord a landlord's consent to a lease assignment.View document
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Questions
About the lease assignment agreement
In an assignment the lease itself passes to the new tenant. In a sublease you stay the tenant. See Sublease agreements.
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