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Lease Assignment Agreement

Hand over a lease to a new tenant, covering release or continuing liability, the deposit, rent proration, and the landlord's consent. Preview first.

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What this document does

A tenant who wants to hand its residential or commercial lease over to a new tenant uses it to assign the whole remaining lease as of an agreed date, have the new tenant take on the lease obligations, settle whether the departing tenant is released or stays liable, the security deposit, rent proration, the condition of the premises, any payment for the assignment and mutual indemnities, with a consent block for the landlord where the lease requires consent. It is not a sublease: the assignor keeps no part of the lease and no right to return, and it does not change the lease's own terms.

What it covers

  • Parties
  • The Lease
  • The Assignment
  • Deposit, Rent, and Payments
  • Condition of the Premises and Handover
  • Promises and Indemnities
  • The Landlord
  • Additional Terms
  • General Provisions

A template you fill in yourself from your own answers. LeaseCraft is not a law firm and does not give legal advice; for advice about your situation, talk to a lawyer.

How it works

1

Answer the questions

Plain-language questions about the people, dates and terms.

2

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Read the document built from your answers and change anything before you download.

3

Download PDF and Word

Included with LeaseCraft Annual ($19.99/year).

Questions about the Lease Assignment Agreement

In an assignment the current tenant transfers its entire remaining interest in the lease to a new tenant, who then deals directly with the landlord and pays rent to the landlord. In a sublease the original tenant keeps the lease and rents some or all of the space to someone else for part of the term. This agreement is an assignment, not a sublease.

Only if the landlord agrees. You choose whether the current tenant is released or stays responsible to the landlord if the new tenant does not pay. A release needs the landlord's signature, so the questionnaire only allows it when the landlord signs the consent block.

When the lease requires the landlord's consent to an assignment, the agreement includes a consent block for the landlord to sign, with any conditions the landlord sets, such as payment of its fee or proof of insurance. When the lease allows assignment without consent, the landlord is named but does not sign, and the current tenant notifies the landlord after the assignment.

You choose one of three arrangements: the deposit stays with the landlord for the new tenant with no payment, the new tenant repays the current tenant for it, or the landlord refunds it to the current tenant and the new tenant pays a new deposit. You can also say the landlord holds no deposit.

Yes. You choose residential or commercial. The agreement can also record a payment for the assignment itself, in either direction, and the landlord's assignment fee and who pays it, which often come up when a business sells a well-located lease.

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