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Lease Assignment Template – Free Download 2026

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When Do You Need a Lease Assignment?

A tenant needs to permanently transfer their entire lease to a new tenant (the assignee) because they are relocating, and the assignor wants to transfer all remaining rights and obligations under the lease rather than subletting.

A commercial tenant is selling their business and the new owner needs to assume the existing lease agreement through a formal lease assignment with the landlord consent required by the original lease.

The original lease permits assignment with landlord approval, and the tenant has found a qualified replacement who is willing to assume all lease obligations, including rent payments, maintenance responsibilities, and the security deposit.

A tenant wants to be fully released from future liability under the lease and needs a novation that replaces the original tenant with the new tenant in the landlord's eyes, creating a direct contractual relationship between the landlord and the assignee.

A corporate tenant is merging with or being acquired by another entity, and the lease must be assigned to the surviving entity with proper documentation of the assignment and the landlord's written consent.

The tenant is entering military service and federal law (SCRA) provides the right to terminate or assign the lease, and a formal assignment document is needed to properly transfer the tenancy to an approved assignee.

What Should a Lease Assignment Include?

Assignment Parties Identification

Identify all three parties: the assignor (original tenant transferring the lease), the assignee (new tenant receiving the lease), and the landlord. Include full legal names, addresses, and contact information for all parties.

Original Lease Reference

Reference the original lease by date, parties, property address, and remaining term. State that the assignor is transferring all of their right, title, and interest in the lease to the assignee effective as of the assignment date.

Landlord Consent

Include a landlord consent section where the landlord acknowledges the assignment and consents to the transfer. Most leases require written landlord consent before an assignment is valid. The consent should specify whether it is a one-time consent or a blanket consent to future assignments.

Assumption of Obligations

Include the assignee's express assumption of all obligations under the original lease, including rent payments, maintenance responsibilities, insurance requirements, and compliance with all lease terms from the assignment date through the end of the lease term.

Release or Continuing Liability

Specify whether the assignor is fully released from future obligations (a novation) or remains secondarily liable if the assignee defaults. Without an express release, privity of contract keeps the original tenant liable to the landlord for the remaining lease term.

Security Deposit Transfer

Address the disposition of the security deposit: whether the original deposit transfers to cover the assignee's obligations, the assignor receives a refund and the assignee posts a new deposit, or the deposits are handled through a direct transfer between the assignor and assignee.

Signature Requirements

E-Signature

Lease assignment agreements are fully valid with electronic signatures under the ESIGN Act and UETA. All three parties — the landlord, assignor (current tenant), and assignee (new tenant) — must sign the agreement. No notarization or witnesses are required for residential lease assignments.

How to Fill Out a Lease Assignment

1

Enter All Party Information

Fill in the full legal names and addresses of the assignor, assignee, and landlord. If any party is a business entity, include the entity name, state of formation, and the name and title of the authorized signer.

2

Reference the Original Lease

Enter the date of the original lease, the property address, and the remaining lease term. Attach a copy of the original lease to the assignment agreement. If the lease has been previously amended or renewed, reference those documents as well.

3

Set the Assignment Effective Date

Enter the date on which the assignment takes effect. This is typically the date the assignee takes possession and begins paying rent directly to the landlord. Coordinate this date with the landlord to ensure a smooth transition.

4

Determine Liability Terms

Specify whether the assignor is released from all future liability (novation) or remains liable as a guarantor if the assignee defaults. If the landlord requires the assignor to remain liable, document this obligation clearly so all parties understand their ongoing responsibilities.

5

Address the Security Deposit

Enter the current security deposit amount and specify whether it transfers to the assignee, is refunded to the assignor with a new deposit from the assignee, or is handled through a payment between the assignor and assignee outside of the landlord's involvement.

6

Obtain Signatures from All Parties

All three parties (assignor, assignee, and landlord) must sign the lease assignment. The landlord's signature serves as the written landlord consent required by the original lease. Each party retains a fully executed copy of the assignment agreement.

Free Template vs Custom Lease Assignment

FeatureFree TemplateCustom (AI or Attorney)
Basic lease assignment structure
Landlord consent and assumption clauses
State-specific assignment complianceResidential and commercial-
Novation and release provisions-
Attorney review and customization-
Digital download (PDF/Word)

Lease Assignment Template FAQ

What is a lease assignment?
A lease assignment is a legal transfer of a tenant's entire remaining interest in a lease to a new party (the assignee). Unlike a sublease, which creates a new tenancy relationship while the original lease remains intact, an assignment transfers all rights and obligations under the original lease to the new tenant. The assignee steps into the shoes of the original tenant and deals directly with the landlord. Most leases require written landlord consent before an assignment is valid.
What is the difference between lease assignment and sublease?
In a lease assignment, the original tenant transfers their entire remaining interest in the lease to the assignee, who assumes all obligations and deals directly with the landlord. In a sublease, the original tenant retains their position under the master lease and creates a separate landlord-tenant relationship with the subtenant. The original tenant in a sublease remains fully responsible to the landlord for rent and lease compliance. An assignment transfers privity of estate to the assignee, while a sublease does not.
Does a lease assignment require landlord consent?
Most leases contain a clause requiring written landlord consent before the tenant can assign the lease. Without such consent, the assignment may be invalid and the landlord could treat the assignee as a trespasser. Some jurisdictions restrict a landlord's ability to unreasonably withhold consent, particularly in commercial leases. If the lease is silent on assignment, the tenant generally has the right to assign without consent, but best practice is always to obtain written landlord approval to avoid disputes.
Is the original tenant liable after lease assignment?
Unless the landlord provides an express release through a novation, the original tenant (assignor) remains liable under privity of contract for the full lease term even after the assignment. This means if the assignee stops paying rent or breaches the lease, the landlord can pursue the original tenant for damages. Only a novation, which requires the landlord's agreement to substitute the assignee for the assignor, fully releases the original tenant from future obligations.
How do you assign a commercial lease?
To assign a commercial lease, first review the original lease for assignment provisions and landlord consent requirements. Identify a qualified assignee and negotiate the assignment terms. Prepare the lease assignment document including the assumption of obligations and any novation or continuing liability provisions. Submit the proposed assignment to the landlord for approval, along with the assignee's financial information and references. Once the landlord consents, all three parties execute the assignment agreement.
Can a landlord refuse lease assignment?
Whether a landlord can refuse a lease assignment depends on the lease terms and applicable law. If the lease prohibits assignment entirely, the landlord can refuse. If the lease requires landlord consent, many states require that consent not be unreasonably withheld, especially in commercial leases. Reasonable grounds for refusal include the assignee's poor credit, insufficient income, incompatible business use (commercial), or a history of evictions. If the lease is silent on assignment, the tenant generally has the right to assign freely.
What is a novation in a lease assignment?
A novation is a three-party agreement that completely replaces the original tenant with the new tenant (assignee) in the lease relationship. Unlike a standard assignment where the original tenant may remain liable under privity of contract, a novation releases the original tenant entirely and creates a new direct contractual relationship between the landlord and the assignee. A novation requires the express consent and agreement of all three parties: the landlord, the departing tenant, and the incoming tenant.
What is privity of contract in lease assignment?
Privity of contract is the legal relationship between parties who have entered into a contract with each other. In the lease context, privity of contract exists between the landlord and the original tenant because they signed the lease. When the lease is assigned, privity of contract between the landlord and the original tenant continues unless a novation is executed. This means the landlord can hold the original tenant responsible for lease obligations even after assignment. The assignee gains privity of estate through the assignment but is not in privity of contract with the landlord unless a new agreement is created.

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Reviewed by licensed attorneys · Editorial policy · Last updated March 2026

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