Lease Assignment Agreement

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The current tenant (Assignor)

The tenant now named on the lease, who is handing it over.

Is the assignor a business or an individual?

Assignor's full legal name

For a business, use its registered name, including "LLC" or "Inc." if it has one.

Street address

City

State

ZIP code

Email optional

Used for written notices.

Phone optional

The new tenant (Assignee)

The person or business taking over the lease.

Is the assignee a business or an individual?

Assignee's full legal name

For a business, use its registered name, including "LLC" or "Inc." if it has one.

Street address

City

State

ZIP code

Email optional

Used for written notices.

Phone optional

The lease

Is this a residential or a commercial lease?

Residential means a home or apartment. Commercial means an office, store, warehouse, or other business space.

Address of the leased premises

Include any unit or suite number, the city, the state, and the ZIP code.

Anything else that identifies the premises optional

For example, "about 1,800 square feet on the ground floor, with the storage room behind it." Leave blank if the address is enough.

Date of the lease

The date shown on the original lease. Any amendments are included automatically.

Does the lease have an end date?

Current monthly rent under the lease

For a commercial lease, the monthly base rent.

The landlord's consent

Does the lease require the landlord's consent to an assignment?

Most leases do. Check the assignment or subletting section of your lease. If you are not sure, choose "required" so the landlord signs. A release of the current tenant, or a refund of the deposit by the landlord, also needs the landlord's signature.

The landlord

The landlord signs a consent block at the end of the agreement.

The assignment

Date the assignment takes effect

From this date the new tenant has the lease and pays the rent. It should be after everyone has signed.

After the assignment, is the current tenant released from the lease?

Under many leases the original tenant stays responsible if the new tenant does not pay, unless the landlord agrees to a release. A release only works if the landlord signs.

Is the current tenant aware of any unpaid rent or other default under the lease?

Deposit, rent, and payments

What happens to the security deposit the landlord holds?

Rent is paid through what date?

The last day covered by the rent the current tenant has paid.

Rent the new tenant repays the current tenant for days after the assignment optional

If the current tenant has already paid rent for days on or after the assignment date, enter the amount the new tenant repays. Leave blank to have it worked out by the day.

Is anyone paying for the assignment itself?

For example, a business buyer may pay the current tenant for a well-located lease, or a tenant may pay someone to take over a lease it no longer needs. This is separate from rent and the deposit.

Condition of the premises

In what condition does the new tenant take the premises?

Will the two tenants walk through the premises together before the assignment date?

Yes No

A joint walk-through with a written list of the condition helps avoid later arguments about who caused damage.

Protecting each other

Should each tenant also cover the other's reasonable attorneys' fees for claims it causes?

Yes No

Each tenant already agrees to cover the other for losses caused by its own failure to meet the lease for its own period. Answer yes to include reasonable attorneys' fees in what is covered.

Landlord's conditions

Anything else

Anything else the parties agreed? optional

For example, furniture or equipment the current tenant leaves behind, or the transfer of a utility account. Write it as you want it to appear in the agreement.

Governing law

Which state's law should govern this agreement?

Usually the state where the premises are.

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