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Assignment of Lease

An Assignment of Lease Agreement is a written document that tenants can use (“the assignor”) to transfer their rights and obligations in a commercial or retail lease to someone else (“the assignee”).

Once the Agreement is executed with the landlord or property owner’s permission, the assignee becomes the new tenant, and the assignor forfeits all existing interests in the property.

If you are experiencing difficulty obtaining permission from your landlord, there is always the option to sublet the property. Visit our Commercial Property Sublease Agreement page to find out more.

The Assignment of Lease Agreement is State Specific

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It’s important to be aware that each State and Territory has different tenancy laws. Therefore, you should double-check you have selected the Agreement which best applies to you before purchasing.

Our professionally drafted and easy to use Assignment of Lease Agreement is a downloadable Microsoft Word template that can be used as many times as you like. All you need to do is fill in the correct information and print out your Agreement.

Once the Agreement is executed with the landlord’s permission, the assignor is indemnified from any future liability. This means that the landlord can no longer seek to recover money from the original tenant if the new tenant defaults on rent.

Our Assignment of Lease Agreement Template contains the following provisions

• The Parties
• The Lease
• Background
• Assignment and Assumption
• The Assignor’s Representations
• Assignee’s Assurances to Landlord and Assignor in order to gain landlord’s consent
• Landlord’s consent
• Assignors Obligations
• Terms and Provisions
• Invalid provisions
• Transfer of Rights
• Entire understanding
• Governing Law