Lease Assignment Agreement
General Information:
Assignment of lease agreement form used by a tenant (lessee) to assign a lease agreement and all obligations / rights / covenants contained therein to another individual or company. This is not an agreement with, or permission from, the landlord. In most instances, this form acquires validity or legality from a Permission To Sublet Agreement between the present tenant and landlord since most rental lease agreements prohibit subletting or assignment without written permission from the landlord. As a rule of thumb, unless the lease agreement specifically grants the right to sublet, a signed Permission To Sublet Agreement from the landlord should be acquired before using this form. One notable exception would be a Lease Option or Lease Purchase Agreement. In a Lease Purchase Agreement it is not unusual for a tenant to be given the right to sell, convey or transfer their interest without the written permission of the Landlord. The granting of this right makes the Lease Option more attractive to the prospective tenants.
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