Letter of Assignment of Lease : Please fill out the following form. Please print your completed form if you would like to have a copy for your records.
AGREEMENT by and between (name of the Tenant) and (name of the Assignee) and (name of the Landlord).
For value received, it is agreed by and between the parties that:
1. Tenant hereby agrees to assign, transfer and deliver to assignee all of Tenant’s remaining rights in and to a certain lease between Tenant and Landlord for premises known as :(Address of the premise being assigned) under lease dated (date with year).
2. Assignee agrees to accept said Lease, pay all rents and punctually perform all of Tenant’s remaining obligations under said Lease accruing after the date of delivery of possession to the assignee as contained herein. Assignee further agrees to indemnify and save harmless the Tenant from any breach of Assignee’s obligations hereunder.
3. The parties acknowledge that Tenant shall deliver possession of the leased premises to Assignee on (effective date) - time being of the essence. All rights and other charges accrued under the Lease prior to said date shall be fully paid by Tenant,and thereafter by the Assignee.
4. Landlord hereby assents to the assignment of lease, provided that :
a) Assent to the assignment shall not discharge Tenant of its obligations to pay rent under the Lease in the event of breach by Assignee
b) In the event of breach by Assignee, Landlord shall provide Tenant with written notice of same and Tenant shall have full rights to recover possession of the leased premises (in the name of Landlord, if necessary) and retain all rights for the duration of said Lease provided it shall pay all accrued rents and cure any other default.
5. The parties acknowledge the lease to be in good standing and in full force and effect without modification.
6. This agreement shall be binding upon and inure to the benefit of the parties, their successors, assigns and personal representatives.
Signed this day of (date with year) :
In the presence of :
Letters used in Leases and Tenancies Index
Letter of Assignment of Lease
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