Lease Assignment Template, Free Download 2026

This Assignment and Assumption of Lease (this "Assignment") is made and entered into as of _____________ by and among _____________ (the "Assignor"), _____________ (the "Assignee"), and _____________ (the "Landlord"). Assignor is the current tenant under that certain lease agreement dated _____________ (the "Original Lease") between Landlord and Assignor for premises located at _____________ (the "Premises").

The Original Lease has a current expiration date of _____________ and is in full force and effect as of the date hereof. Assignor represents and warrants that a true, correct, and complete copy of the Original Lease, including all amendments, addenda, and modifications thereto, is attached hereto as Exhibit A and incorporated herein by reference. All capitalized terms used but not defined herein shall have the meanings ascribed to them in the Original Lease.

Assignor represents that Assignor is not in default under the Original Lease and that no event has occurred which, with the passage of time or the giving of notice, or both, would constitute a default thereunder. Assignor further represents that all rent and other charges due under the Original Lease have been paid through _____________ and that the current monthly rent under the Original Lease is $__________.

Effective as of _____________ (the "Effective Date"), Assignor hereby assigns, transfers, and sets over to Assignee all of Assignor's right, title, and interest in, to, and under the Original Lease, together with all rights and privileges appurtenant thereto, including without limitation the right to occupy and use the Premises for the remainder of the term of the Original Lease, subject to all terms, conditions, and obligations thereof.

Assignee hereby accepts the foregoing assignment and assumes and agrees to perform, observe, and be bound by all of the terms, covenants, conditions, and obligations of the tenant under the Original Lease arising on and after the Effective Date, as if Assignee were the original tenant thereunder. Assignee acknowledges that Assignee has reviewed the Original Lease in its entirety and is fully aware of all obligations, restrictions, and conditions imposed upon the tenant thereunder.

By executing this Assignment, Landlord hereby consents to the assignment of the Original Lease from Assignor to Assignee upon the terms set forth herein. Landlord's consent to this Assignment shall not be deemed consent to any further or subsequent assignment, subletting, or transfer. Landlord's consent is given on the express condition that Assignee shall comply with all terms and conditions of the Original Lease.

Landlord acknowledges that, as of the Effective Date, Assignee shall be recognized as the tenant under the Original Lease for all purposes, and Landlord agrees to direct all future notices, communications, and demands to Assignee at the Premises or at such other address as Assignee may designate in writing in accordance with the notice provisions of the Original Lease. This consent shall not modify, amend, or alter any provision of the Original Lease except as expressly set forth herein.

Assignor represents and warrants to Assignee and Landlord that: (a) Assignor has full power and authority to execute this Assignment and to assign the Original Lease; (b) the Original Lease, as attached hereto, is unmodified and in full force and effect, and there are no oral or written agreements modifying the Original Lease that are not attached hereto; (c) Assignor has not previously assigned, pledged, hypothecated, or otherwise encumbered the Original Lease or any interest therein; and (d) there are no pending or threatened actions, suits, or proceedings affecting the Original Lease or the Premises.

Assignee represents and warrants to Assignor and Landlord that: (a) Assignee has full power and authority to execute this Assignment and to assume the obligations of the tenant under the Original Lease; (b) Assignee has inspected the Premises and accepts the same in its present "as-is" condition; (c) Assignee has the financial capacity to perform all obligations under the Original Lease; and (d) the execution and performance of this Assignment does not violate any agreement, law, or regulation to which Assignee is subject.

Unless expressly released by Landlord in writing, Assignor shall remain jointly and severally liable with Assignee for all obligations of the tenant under the Original Lease arising on and after the Effective Date. Notwithstanding the foregoing, if Landlord executes a written release of Assignor concurrently herewith or subsequent hereto, Assignor shall be released from all obligations under the Original Lease arising after the Effective Date, but shall remain liable for all obligations that accrued prior to the Effective Date.

Assignee shall indemnify, defend, and hold harmless Assignor from and against any and all claims, damages, liabilities, costs, and expenses (including reasonable attorneys' fees) arising out of or relating to Assignee's failure to perform any obligation under the Original Lease arising on or after the Effective Date. Assignor shall indemnify, defend, and hold harmless Assignee from and against any and all claims, damages, liabilities, costs, and expenses arising out of or relating to Assignor's obligations under the Original Lease that accrued prior to the Effective Date.

Landlord acknowledges that Landlord currently holds a security deposit in the amount of $__________ (the "Security Deposit") under the Original Lease. Upon the Effective Date, the Security Deposit shall be deemed transferred to and held on behalf of Assignee for the purposes set forth in the Original Lease. Assignor hereby releases any and all claims to the Security Deposit and acknowledges that Assignor shall look solely to Assignee for reimbursement of the Security Deposit amount.

In the event the Security Deposit amount held by Landlord is insufficient to satisfy the security deposit requirements of the Original Lease, Assignee shall deposit with Landlord the additional amount of $__________ on or before the Effective Date to bring the total Security Deposit to the amount required under the Original Lease. Assignee shall have the right to the return of the Security Deposit in accordance with the terms of the Original Lease and applicable state law upon the expiration or termination of the Original Lease, subject to lawful deductions.

This Assignment shall be governed by and construed in accordance with the laws of the state in which the Premises is located. This Assignment constitutes the entire agreement among the parties with respect to the subject matter hereof and supersedes all prior negotiations, representations, and agreements relating to the assignment of the Original Lease. No amendment or modification shall be effective unless in writing and signed by all parties hereto.

All notices required or permitted under this Assignment shall be delivered in accordance with the notice provisions of the Original Lease. If any provision of this Assignment is held invalid or unenforceable, the remaining provisions shall continue in full force and effect. This Assignment shall be binding upon and inure to the benefit of the parties and their respective heirs, successors, and permitted assigns. This Assignment may be executed in counterparts, each of which shall constitute an original, and all of which shall constitute one and the same instrument.