Assignment of Lease Form
What Is an Assignment of Lease?
When a tenant wishes to transfer their rights to a Lease Agreement to a new tenant, they will need to create an Assignment of a Lease with the landlord so that all parties are aware of and agree to the transfer. This can be used in cases where a tenant is residing in a rent-controlled unit and wishes to pass the unit onto another individual who plans to live there once the current tenant has left. A printable Assignment of Lease template can be downloaded through the link below.
- Assignment of Lease Agreement.
An Assignment of Lease differs from a Subletting Agreement, in that this agreement requires that the original tenant has agreed to permanently move out of the rental unit.
How to Write an Assignment of Lease Agreement?
To begin writing a Lease Assignment Form you will want to include the following information:
- All parties involved with the lease (the current tenant, landlord, and interested future tenant). Include the city and state where the rental property is located and the date the agreement will be signed by all parties.
- Address and unit number of the property for the Assignment of Lease.
- A statement that the current tenant (the "Assignor") will be transferring all rights and rules of the lease to the interested future tenant (the "Assignee") with the full knowledge and approval of the landlord.
- The Assignor has agreed that all aspects of the lease's conditions, terms, and regulations will be transferred to the Assignee on a specific date until the expiration date of the current lease date.
- All payments must be up to date for the Assignor to transfer the Assignment of a Lease to a new tenant, and that no future payments will be due to the landlord by the Assignor.
- The Assignee agrees that all future rental payments to the landlord will be their sole responsibility and they will be subject to the same rental payment rules (including late payment fees) as the Assignor.
- The date the Assignment of Lease Form will be executed and transfer of the lease to the Assignee will be valid.
- Signature sections for each party to the agreement. Each signature space must also have a printed section, date, and whether the individual is an Assignor or Assignee.
- A separate section listing the landlord's express consent to the agreement above, with their full name, address of the property in the agreement, and city and state where the property is located. The landlord consent section will also need the date the agreement will go into effect and that the landlord agrees to respect all current provisions, rules, and aspects of the current lease until the date the lease is set to expire.
- Landlord signature section below the landlord consent section, with the landlord's signature, printed name, and date.
It is also a good idea to make sure each party listed in the Assignment of Lease Form has a separate copy of the agreement for their records.
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Download Assignment of Lease Form