A simple lease assignment agreement is to assign the rights and obligations of the lessee to the assignee with the consent of the lessor. This generates an entire assignment of all the lessee's rights and release of the lessee's obligations from liability under the Agreement.

In this lease assignment, the Lessee transfers its entire interest in and obligations under a lease to another party. The new Lessee will assume the lease responsibilities, including rent and property maintenance.  However, for the assignment to be effective, the original lesser must agree and release the original lessee from all the duties and liabilities.

How to use this Document?

This Assignment Agreement should be carefully read by the Assignor (Lessee), the Assignee and the Counterparty (Lessor). 

A copy of the lease agreement must be attached to this assignment. The parties should sign and return a copy, and once signed, both parties should get a copy. Both parties may wish to have their signature witnessed to avoid future disputes.