With LawDepot's Lease Assignment Agreement, a tenant can transfer their rights and interest in a lease to an assignee. The assignee agrees to assume all of the obligations and responsibilities of the original tenant under the lease. Depending on the agreement with the landlord, the original tenant may or may not be held responsible for any breaches of the Lease Agreement.
Before preparing a lease assignment, tenants should first check the original lease agreement for any clauses that specify how an assignment can take place. It's also important to research how local landlord and tenant laws may affect the enforceability of a Lease Assignment Agreement. Finally, tenants should be sure to obtain their landlord's written consent.
Tenants can use LawDepot's Consent to Lease Assignment template as a request letter to their landlord, or landlords can fill out the form in response to a tenant request. Our template prompts you to include all of the necessary information for transferring interest in a lease, including:
- Information about the original lease
- The name of the new tenant
- The date the assignee takes over the lease
- Whether or not the original tenant is released of all liabilities
Once the landlord signs the consent form, the tenant can proceed with drafting or executing a Lease Assignment Agreement.