Home
/Swyft Forms
/Swyft Forms Documents

Assignment and Assumption of Lease Agreement

An Assignment and Assumption of Lease Agreement is used to officially transfer a real estate lease agreement from one party to another.
Create Document
Legal Form Document Preview
HOW IT WORKS
Build your selected document.
Answer a few simple questions with step-by-step instructions.
Print & download forms instantly. Sign & make it legal.

Frequently Asked Questions

Obviously, one is for subletting with the original tenant still on record on the lease agreement opposite the landlord, whereas with the former is a full transfer of the lease to a new tenant, after which the current tenant is no longer party to the lease agreement. A big difference indeed, if you may agree.

A renter or homebuyer must be so informed if a property of concern contains lead-based paint in its construct. More specifically, the 1996 federal law of the same title mandates all buildings constructed before 1978 to include a lead-based paint disclosure in a sale or during tenant procurement. The disclosure is applicable even if the property has been renovated since and oft-included in the lease agreement (together with its subsequent assignment, as applicable).

If you attempt to assign your lease to another party without an Assignment and Assumption of Lease Agreement, the landlord may contest the lease assignment and any family court judge would side with the landlord in a heartbeat, leaving the current tenant holding the bag of any liabilities incurred.

The Consent to Lease Assignment is the landlord’s explicit consent to any subsequent lease assignment since lease agreements outlaw assignment by default, which makes the consent a prerequisite to the execution of an Assignment and Assumption of Lease Agreement.

This may depend on what is contained in the original lease agreement negotiations. If not, the Assignment and Assumption of the Lease agreement should address this concern, where normally, in the name of fairness, the landlord would only hold the latest occupying tenant responsible.