Our assignment of commercial lease template will allow you to assign your commercial leasehold interest to another party with the consent of your landlord.
What You Should Know Before Using our Assignment of Commercial Lease Template
An assignment of commercial lease form is a contract that allows a tenant, to assign their rights in the real property. In a case like this, a tenant assigns their rights to a third party, called the lease assignee. Furthermore, a lease assignee assumes all or part of a lease interest in their place. An assignment of commercial lease is perfect if the original tenant wants to assign the remaining term on a lease. Finally, a lease assignee will be required to pay rent to a landlord and act as if they entered into the original lease.
An assignment of commercial lease agreement is a legally binding contract between all interested parties. This includes the tenant, the lease assignee, and the landlord.
This commercial lease assignment agreement will help you detail all of the required rights and responsibilities attached to the property. The document allows you to describe the property and arrange how the landlord will collect the rent payments. Furthermore, you can set the frequency of rent payments and specify whether the lease assignee must pay a deposit. In addition, this document allows you to notate other details. This includes if the original lease agreement requires the landlord's written consent for the tenant to assign the property. Another requirement can be if the landlord agrees to release the original tenant from all responsibilities related to the property.
Use our assignment of commercial lease agreement template to quickly transfers your stake in a leasehold to a 3rd party. Finally, the lease assignee agrees to all of the original lease terms.