Free Lease Assignment Agreement

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Lease Assignment Agreement

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ASSIGNMENT OF TENANCY AGREEMENT WITH CONSENT OF LESSOR

THIS ASSIGNMENT OF TENANCY AGREEMENT dated this 21st day of July, 2018

BETWEEN:

_________________________

(the "Assignor")

OF THE FIRST PART

- AND-

_______________________

(the "Assignee")

OF THE SECOND PART

  1. Background
  2. This is an agreement (the "Assignment") to assign a residential tenancy agreement in real property according to the terms specified below.
  3. The Assignor wishes to assign and transfer to the Assignee that tenancy agreement (the "Tenancy Agreement") dated July 21, 2018, and executed by the Assignor as tenant and by _________________________ as lessor (the "Lessor").

IN CONSIDERATION OF the Assignor agreeing to assign and the Assignee agreeing to assume the Tenancy Agreement for the Premises, and other valuable consideration, the receipt and sufficiency of which is hereby acknowledged, both parties agree to keep, perform and fulfill the promises, conditions and agreements below:

  1. Premises
  2. The Tenancy Agreement governs the rental of the following described premises (the "Premises") to the Assignor: ______________________________________________
  3. Assigned Tenancy Agreement
  4. The Assignor assigns and transfers to the Assignee all of the Assignor's right, title, and interest in and to the Tenancy Agreement and the Premises, subject to all the conditions and terms contained in the Tenancy Agreement.
  5. Effective Date
  6. This Assignment takes effect on July 21, 2018 (the "Effective Date"), and continues until the present term of the Tenancy Agreement expires on July 21, 2018.
  7. Assignor's Interest
  8. The Assignor covenants that:
    1. the Assignor is the lawful and sole owner of the interest assigned under this Assignment;
    2. this interest is free from all encumbrances; and
    3. the Assignor has performed all duties and obligations and made all payments required under the terms and conditions of the Tenancy Agreement.
  9. Breach of Tenancy Agreement by Assignee
  10. Consent to this Assignment will not discharge the Assignor of its obligations under the Tenancy Agreement in the event of a breach by the Assignee.
  11. In the event of a breach by the Assignee, the Lessor will provide the Assignor with written notice of this breach and the Assignor will have full rights to commence all actions to recover possession of the Premises (in the name of the Lessor, if necessary) and retain all rights for the duration of the Tenancy Agreement provided the Assignor will pay all accrued rents and cure any other default.
  12. Governing Law
  13. It is the intention of the parties that this Assignment, and all suits and special proceedings under this Assignment, be construed in accordance with and governed, to the exclusion of the law of any other forum, by the laws of Commonwealth of Australia, without regard to the jurisdiction in which any action or special proceeding may be instituted.
  14. Miscellaneous Provisions
  15. This Assignment incorporates and is subject to the Tenancy Agreement, a copy of which is attached hereto, and which is hereby referred to and incorporated as if it were set out here at length. The Assignee agrees to assume all of the obligations and responsibilities of the Assignor under the Tenancy Agreement.
  16. This Assignment will be binding upon and inure to the benefit of the parties, their successors, assigns, personal representatives, beneficiaries, executors, administrators, and heirs, as the case may be.
  17. All rents and other charges accrued under the Tenancy Agreement prior to the Effective Date will be fully paid by the Assignor, and by the Assignee after the Effective Date. The Assignee will also be responsible for assuming and performing all other duties and obligations required under the terms and conditions of the Tenancy Agreement after the Effective Date.
  18. There will be no further assignment of the Tenancy Agreement without the prior written consent of the Lessor.

IN WITNESS WHEREOF the Assignor and Assignee have duly affixed their signatures under hand and seal on this 21st day of July, 2018.

Signatures to the Agreement
This agreement is made on the 21st day of July, 2018.

Assignor's signature:

Witness (to Assignor's signature):


_____________________________
_________________________


_____________________________


Assignee's signature:

Witness (to Assignee's signature):


_____________________________
_______________________

_____________________________


CONSENT OF LESSOR

The Lessor in the above Assignment of Tenancy Agreement executed on the 21st day of July, 2018, consents to that Assignment. The Lessor also agrees to the Assignee assuming after July 21, 2018, the payment of rent and performance of all duties and obligations as provided in the Tenancy Agreement.

Dated: ____ day of _________________, 20____




______________________________
Lessor: _________________________

Lease Assignment Agreement Information

Alternate Names:

A Lease Assignment Agreement can also be referred to as a/an:

  • Assignment of Lease
  • Deed of Assignment of Lease
  • Lease Assignment
  • Lease Assignment Contract
  • Transfer of Lease
  • Assignment of Tenancy Agreement

What is a Lease Assignment Agreement?

A Lease Assignment Agreement is a legal contract that tenants use to transfer their interest in a residential or commercial lease to someone else (the assignee). This means that the original tenants forfeit their rights to be tenants under the lease and the assignee becomes the new tenant of the rental property.

Who are the parties in a Lease Assignment?

The parties in a Lease Assignment Agreement are:

  • Assignor: the tenant from the original Tenancy Agreement who is transferring their interest in the agreement to another person, corporation, or organisation
  • Assignee: the person, organisation, or corporation who takes over the interest in the rental property
  • Landlord: the person or organisation who owns the rental property

What kind of leased property can be transferred with a Lease Assignment Agreement?

A Lease Assignment can be used to transfer the lease to any type of property used in a Residential or Commercial Lease, including:

  • Houses
  • Apartments
  • Townhouses
  • Warehouses
  • Office spaces
  • Retail spaces (and more)

Do I need my landlord's permission to assign my lease?

Yes. In most cases, you will need written consent from your landlord to assign your lease to someone else.

The only time you may not need your landlord's permission to assign your lease to another person is if the original Tenancy Agreement explicitly permits that the tenant can assign the lease without the landlord's permission.

It is best to obtain written consent from the landlord when assigning either a commercial or residential lease.

What is the difference between subletting and assigning a lease?

Subletting is when a tenant transfers part of their rights and obligations in a lease contract to a third-party (a subtenant) but remains responsible for the original lease. Typically, the transferred responsibilities to the subtenant are only for part of the leased space (e.g. renting a specific room in the apartment suite) or for part of the lease term (e.g. renting the entire apartment to the subtenant for one month out of a yearly lease).

In a sublease, a new lease agreement is created where the original tenant acts as the landlord and the subtenant acts as the new tenant. However, the original tenant is still liable for the lease to the original landlord. For example, if rent isn't paid on time by the subtenant, the original tenant can be subject to consequences (like an eviction notice) from the original tenant's landlord.

In a Lease Assignment, the original tenant transfers all their rights in the lease agreement to the assignee. A new lease is not created, the original lease is simply transferred to a new person. The assignee will typically interact directly with the landlord (e.g. to pay rent, request repairs and maintenance, etc.), but the original tenant can still be held liable on the lease unless the landlord releases them of their liability.

Why should I use LawDepot's Australian Lease Assignment form?

LawDepot's Lease Assignment Agreement can be customised for most Australian states and territories, including:

  • Australian Capital Territory (ACT)
  • New South Wales (NSW)
  • Northern Territory (NT)
  • Queensland (QLD)
  • South Australia (SA)
  • Tasmania (TAS)
  • Victoria (VIC)
  • Western Australia (WA)

LawDepot's online Lease Assignment form allows you to customise:

  • Party information (assignor, assignee, and landlord details)
  • Original Tenancy Agreement information (start and end dates of the original lease, the date the lease was signed, address of the property, etc.)
  • Liability details (who is liable if the assignee breaches the terms of the Tenancy Agreement)
  • Landlord's consent to assign the lease (whether or not the landlord is attaching written consent to the assignment or has already provided written consent prior to completing the assignment document)

With LawDepot's online legal forms, you also have the capability to add additional clauses unique to your situation that might not have been addressed in the questionnaire.

Related Documents:

  • Commercial Lease Agreement: a contract that creates a commercial tenancy between a landlord and a business tenant
  • Lease Amendment: a form used to make changes to an existing Tenancy Agreement without completely negating the original contract
  • Lease Notice: a notice that a landlord gives to a tenant that provides the option to be evicted or resolve an issue like a lease violation
  • Residential Tenancy Agreement: a contract that outlines the terms of a residential tenancy and details the rights, responsibilities, and obligations of the tenant(s) and the landlord(s)

Frequently Asked Questions:

Lease Assignment Agreement FAQ
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