Consent To Assignment Of Residential Lease
This Consent to Assignment of Lease is between a landlord, tenant and an assignee to whom the lease will be assigned. This consent sets out the identities of the parties, the date of the lease and the location of the premises. This Consent to Assignment of Lease is in effect the landlord�s consent to the assignment and must be signed by all parties.
CONSENT TO ASSIGNMENT OF LEASE
THIS CONSENT TO ASSIGNMENT OF LEASE (the �Consent�) is made and entered into this ____ day of __________________ 20______, (the �Effective Date�) by and between ________________________________________ of ________________________________, (the �Landlord�), __________________ of ____________________________________ (the �Tenant�), and ________________________________ of __________________________ (the �Assignee�)
WHEREAS, the Tenant and Landlord have entered into a Lease Agreement dated _____________________________________ (the �Lease�), for the following premises: _______________________________________________________ (the �Premises�)
WHEREAS, on ___________________________ the Tenant and Assignee have entered into an Assignment of Lease (the �Assignment�).
WHEREAS, the Landlord hereby consents to such Assignment upon the terms and conditions contained hereunder.
NOW, THEREFORE, for and in consideration of the covenants and obligations contained herein, Landlord, Tenant and Assignee represent and agree as follows:
Landlord hereby consents to Tenant�s Assignment of all its right, title and interest in and to the said Lease to the Assignee. From the ______________ day of ________________, ______ Assignee will fully assume all the obligations and responsibilities of the Tenant under the Lease. Tenant's financial responsibilities under the terms of the said Lease are hereby ended by this Consent.
Assignee shall not further assign the Lease or sublet or transfer the Premises, or any part thereof, without the prior written consent of the Landlord. Nothing contained in this Consent shall constitute a waiver of the obligation of the Tenant to obtain Landlord�s consent to any subsequent assignment, sublease or other transfer of premises under the Lease, nor shall it constitute a waiver of any existing defaults under the Lease.
This Consent constitutes the entire agreement of Landlord and Tenant pertaining to its subject matter and supersedes any prior negotiations, representations, agreements and understandings of the parties with respect to such matters, whether written or oral. The parties acknowledge that they have not relied on any promise, representation or warranty, expressed or implied, not contained in this Consent.
IN WITNESS WHEREOF, Landlord, Tenant and Assignee have executed this Consent on the day and year first above written.
A Lease Assignment Agreement is a short document that allows for the transfer of interest in a residential or commercial lease from one tenant to another. In other words, a Lease Assignment Agreement is used when the original tenant wants to get out of a lease and has someone lined up to take their place.
Within a Lease Assignment Agreement, there is not that much information included, except the basics: names and identifying information of the parties, assignment start date, name of landlord, etc. The reason these documents are not more robust is because the original lease is incorporated by reference, all the time. What this means is that all of the terms in the original lease are deemed to be included in the Lease Assignment Agreement.
A Lease Assignment Agreement is different than a Sublease Agreement because the entirety of the lease interest is being transferred in an assignment. With a sublease, the original tenant is still liable for everything, and the sublease may be made for less than the entire property interest. A Lease Assignment transfers the whole interest and puts the new tenant in place of the old one.
The one major thing to be aware of with a Lease Assignment Agreement is that in most situations, the lease will require a landlord's explicit consent for an assignment. The parties should, therefore, be sure the landlord agrees to an assignment before filling out this document.
How to use this document
This Lease Assignment Agreement will help set forth all the required facts and obligations for a valid lease assignment. This essentially means one party (called the Assignor) will be transferring their rights and obligations as a tenant (including paying rent and living in the space) to another party (called the Assignee).
In this document, basic information is listed, such as old and new tenant names, the landlord's name, the address of the property, the dates of the lease, and the date of the assignment.
Information about whether or not the Assignor will still be liable in case the Assignee doesn't fulfill the required obligations is also included.
Lease Agreements in the United States are generally subject to the laws of the individual state and therefore, so are Lease Assignment Agreements.
The Environmental Protection Agency governs the disclosure of lead-based paint warnings in all rentals in the States. If a lead-based paint disclosure has not been included in the lease, it must be included in the assignment. Distinct from that, however, required disclosures and lease terms will be based on the laws of the state, and sometimes county, where the property is located.
How to modify the template
You fill out a form. The document is created before your eyes as you respond to the questions.
At the end, you receive it in Word and PDF formats for free. You can modify it and reuse it.