deed of assignment leasehold

Assignment of Lease

Jump to Section

What is an assignment of lease.

The assignment of lease is a title document that transfers all rights possessed by a lessee or tenant to a property to another party. The assignee takes the assignor’s place in the landlord-tenant relationship.

You can view an example of a lease assignment here .

How Lease Assignment Works

In cases where a tenant wants to or needs to get out of their lease before it expires, lease assignment provides a legal option to assign or transfer rights of the lease to someone else. For instance, if in a commercial lease a business leases a place for 12 months but the business moves or shuts down after 10 months, the person can transfer the lease to someone else through an assignment of the lease. In this case, they will not have to pay rent for the last two months as the new assigned tenant will be responsible for that.

However, before the original tenant can be released of any responsibilities associated with the lease, other requirements need to be satisfied. The landlord needs to consent to the lease transfer through a “License to Assign” document. It is crucial to complete this document before moving on to the assignment of lease as the landlord may refuse to approve the assignment.

Difference Between Assignment of Lease and Subletting

A transfer of the remaining interest in a lease, also known as assignment, is possible when implied rights to assign exist. Some leases do not allow assignment or sharing of possessions or property under a lease. An assignment ensures the complete transfer of the rights to the property from one tenant to another.

The assignor is no longer responsible for rent or utilities and other costs that they might have had under the lease. Here, the assignee becomes the tenant and takes over all responsibilities such as rent. However, unless the assignee is released of all liabilities by the landlord, they remain responsible if the new tenant defaults.

A sublease is a new lease agreement between the tenant (or the sublessor) and a third-party (or the sublessee) for a portion of the lease. The original lease agreement between the landlord and the sublessor (or original tenant) still remains in place. The original tenant still remains responsible for all duties set under the lease.

Here are some key differences between subletting and assigning a lease:

• Under a sublease, the original lease agreement still remains in place.
• The original tenant retains all responsibilities under a sublease agreement.
• A sublease can be for less than all of the property, such as for a room, general area, portion of the leased premises, etc.
• Subleasing can be for a portion of the lease term. For instance, a tenant can sublease the property for a month and then retain it after the third-party completes their month-long sublet.
• Since the sublease agreement is between the tenant and the third-party, rent is often negotiable, based on the term of the sublease and other circumstances.
• The third-party in a sublease agreement does not have a direct relationship with the landlord.
• The subtenant will need to seek consent of both the tenant and the landlord to make any repairs or changes to the property during their sublease.

Here is more on an assignment of lease here .

Parties Involved in Lease Assignment

There are three parties involved in a lease assignment – the landlord or owner of the property, the assignor and the assignee. The original lease agreement is between the landlord and the tenant, or the assignor. The lease agreement outlines the duties and responsibilities of both parties when it comes to renting the property. Now, when the tenant decides to assign the lease to a third-party, the third-party is known as the assignee. The assignee takes on the responsibilities laid under the original lease agreement between the assignor and the landlord. The landlord must consent to the assignment of the lease prior to the assignment.

For example, Jake is renting a commercial property for his business from Paul for two years beginning January 2013 up until January 2015. In January 2014, Jake suffers a financial crisis and has to close down his business to move to a different city. Jake doesn’t want to continue paying rent on the property as he will not be using it for a year left of the lease. Jake’s friend, John would soon be turning his digital business into a brick-and-mortar store. John has been looking for a space to kick start his venture. Jake can assign his space for the rest of the lease term to John through an assignment of lease. Jake will need to seek the approval of his landlord and then begin the assignment process. Here, Jake will be the assignor who transfers all his lease related duties and responsibilities to John, who will be the assignee.

You can read more on lease agreements here .

Image via Pexels by RODNAE

Assignment of Lease From Seller to Buyer

In case of a residential property, a landlord can assign his leases to the new buyer of the building. The landlord will assign the right to collect rent to the buyer. This will allow the buyer to collect any and all rent from existing tenants in that property. This assignment can also include the assignment of security deposits, if the parties agree to it. This type of assignment provides protection to the buyer so they can collect rent on the property.

The assignment of a lease from the seller to a buyer also requires that all tenants are made aware of the sale of the property. The buyer-seller should give proper notice to the tenants along with a notice of assignment of lease signed by both the buyer and the seller. Tenants should also be informed about the contact information of the new landlord and the payment methods to be used to pay rent to the new landlord.

You can read more on buyer-seller lease assignments here .

Get Help with an Assignment of Lease

Do you have any questions about a lease assignment and want to speak to an expert? Post a project today on ContractsCounsel and receive bids from real estate lawyers who specialize in lease assignment.

ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.

Meet some of our Assignment of Lease Lawyers

I have been in practice since 1990 and practice in D.C., Maryland, and Virginia. I am an experienced litigator and look forward to resolving your legal questions as efficiently as possible.

Hello! I am an Iowa native trying to bring some Midwest problem-solving to southern civil law. I thoroughly enjoy getting to know the individuals and businesses I assist. I practice estate planning and business formation and, with my litigation experience in mind, I help clients plan to ensure they and their interests are protected in the future.

Danielle G.

Danielle Giovannone is the principal of Danielle D. Giovannone Law Office. In her experience, Danielle has found that many business do not require in-house legal counsel, but still need outside counsel that knows their business just as well as in-house counsel. This need inspired Danielle to start her firm. Before starting her firm, Danielle served as Contracts Counsel at Siena College and as an attorney at the New York City Department of Education, Office of the General Counsel. At the NYCDOE, she served as lead counsel negotiating and drafting large-scale commercial agreements, including contracts with major technology firms on behalf of the school district. Prior to the NYCDOE, Danielle worked as an associate at a small corporate and securities law firm, where she gained hands-on experience right out of law school. Danielle has provided legal and policy advice on intellectual property and data privacy matters, as well as corporate law, formation and compliance, employer liability, insurance, regulatory matters, general municipal matters and non-profit issues. Danielle holds a J.D. from Fordham University School of Law and a B.S. from Cornell University. She is active in her Capital District community providing pro bono services to the Legal Project, and has served as Co-Chair to the Niskayuna Co-op Nursery School and Vice President of Services to the Craig Elementary School Parent Teacher Organization. Danielle is a member of the New York State Bar Association.

Combining extensive experience in litigation and as general counsel for a real estate and private equity company, I provide ongoing guidance and support to clients on a variety of transactional matters, including business formation, partnership agreements, corporate agreements, commercial and residential leasing, and employment issues.

Anand is an entrepreneur and attorney with a wide-ranging background. In his legal capacity, Anand has represented parties in (i) commercial finance, (ii) corporate, and (iii) real estate matters throughout the country, including New Jersey, Pennsylvania, Delaware, Arizona, and Georgia. He is well-versed in business formation and management, reviewing and negotiating contracts, advising clients on financing strategy, and various other arenas in which individuals and businesses commonly find themselves. As an entrepreneur, Anand is involved in the hospitality industry and commercial real estate. His approach to the legal practice is to treat clients fairly and provide the highest quality representation possible. Anand received his law degree from Rutgers University School of Law in 2013 and his Bachelor of Business Administration from Pace University, Lubin School of Business in 2007.

I am a Florida estate planning and probate attorney helping clients achieve their goals through personalized legal strategies. Excellent communication, thorough preparation, and accurate execution are the keys to success.

Ahaji Amos, PLLC is a Houston-based intellectual property and civil litigation firm servicing clients throughout the U.S.

Find the best lawyer for your project

Contract to lease land from a church.

I’m planning on leasing land from a church. Putting a gym on the property. And leasing it back to the school.

Ok; first step is that you will need a leasing contract with the church. Ask them to prepare one for you so you would just need an attorney to review the agreement and that should cost less than if you had to be the party to pay a lawyer to draft it from scratch. You need to ensure that the purpose of the lease is clearly stated - that you plan to put a gym on the land so that there are no issues if the church leadership changes. Step 2 - you will need a lease agreement with the school that your leasing it do (hopefully one that is similar to the original one your received from the church). Again, please ensure that all the terms that you discuss and agree to are in the document; including length of time, price and how to resolve disputes if you have one. I hope this is helpful. If you would like me to assist you further, you can contact me on Contracts Counsel and we can discuss a fee for my services. Regards, Donya Ramsay (Gordon)

Quick, user friendly and one of the better ways I've come across to get ahold of lawyers willing to take new clients.

How It Works

Post Your Project

Get Free Bids to Compare

Hire Your Lawyer

Real Estate lawyers by top cities

• Austin Real Estate Lawyers
• Boston Real Estate Lawyers
• Chicago Real Estate Lawyers
• Dallas Real Estate Lawyers
• Denver Real Estate Lawyers
• Houston Real Estate Lawyers
• Los Angeles Real Estate Lawyers
• New York Real Estate Lawyers
• Phoenix Real Estate Lawyers
• San Diego Real Estate Lawyers
• Tampa Real Estate Lawyers

Assignment of Lease lawyers by city

• Austin Assignment of Lease Lawyers
• Boston Assignment of Lease Lawyers
• Chicago Assignment of Lease Lawyers
• Dallas Assignment of Lease Lawyers
• Denver Assignment of Lease Lawyers
• Houston Assignment of Lease Lawyers
• Los Angeles Assignment of Lease Lawyers
• New York Assignment of Lease Lawyers
• Phoenix Assignment of Lease Lawyers
• San Diego Assignment of Lease Lawyers
• Tampa Assignment of Lease Lawyers

Contracts Counsel was incredibly helpful and easy to use. I submitted a project for a lawyer's help within a day I had received over 6 proposals from qualified lawyers. I submitted a bid that works best for my business and we went forward with the project.

I never knew how difficult it was to obtain representation or a lawyer, and ContractsCounsel was EXACTLY the type of service I was hoping for when I was in a pinch. Working with their service was efficient, effective and made me feel in control. Thank you so much and should I ever need attorney services down the road, I'll certainly be a repeat customer.

I got 5 bids within 24h of posting my project. I choose the person who provided the most detailed and relevant intro letter, highlighting their experience relevant to my project. I am very satisfied with the outcome and quality of the two agreements that were produced, they actually far exceed my expectations.

Want to speak to someone?

Get in touch below and we will schedule a time to connect!

Find lawyers and attorneys by city

• Business Set Up
• Consumer Law
• Data & Privacy
• Employment Law
• Getting Finance
• Intellectual Property
• Technology & Software
• Professional Services
• Construction & Trades
• Fitness, Health and Wellness
• Online Business
• Food & Hospitality
• Meet the Team
• Quick Q&As
• Get Started
• Member Login

Assigning A Lease – How A Deed Of Assignment Works

When you’re entering or leaving a business premise as a tenant, it’s always good to check if you need to transfer a lease. In other words, if the owner is changing, you need to make this official with your tenant. 

This is known as ‘assigning a lease’ or ‘transferring a lease’. It occurs when you’re selling your business and the buyer agrees to be bound by the existing lease, or you’ve simply decided to move premises and have found another business willing to be bound by your current lease.

Essentially, when you assign your lease, you’ll be handing over the rights and obligations of that lease to another party . The last thing you want is to be liable for an old lease! 

This is also known as a Deed Of Assignment , which we’ve written about in more detail here . 

The Process Of Transferring A Lease

Transferring a lease doesn’t have to be a complicated process, so let’s break it down. 

1. Review The Existing Lease

First thing’s first – you’ll need to ensure that there aren’t any conditions on the lease that would stop it from being transferred. To do this, you might want to look at the terms of your lease, and even have a lawyer help you out with this step! 

2. Landlord’s Consent

Once you’ve determined that the lease is assignable, you’ll need the consent of the landlord in writing and identify what requirements you’ll need to fulfil.This can be different for each landlord, so make sure you and your landlord are both clear on what needs to be done. 

3. Discuss The Assignee

Now, you need to chat with your landlord about who will be taking over your premises, otherwise known as the incoming tenant. For example, you need to collect their name, contact details and relevant documents for the transfer. This might include documents to show their financial status, or their business experience. 

Once this is all taken care of, the landlord basically confirms their consent to the transfer, and the tenant also lets them know that they agree to it. This should be covered in what we call a Deed of Consent to Assignment . 

The assignee will also agree to inherit the rights under the existing lease from a certain date until the lease term ends. 

At this stage, it’s important for all parties to review the terms of the Agreement to ensure they are happy with what they need to do and for how long they will enjoy certain rights or interests in the lease. 

I’m The Outgoing Tenant – What Else Should I Do?

Once the landlord’s consent has been received, we can start putting together a Deed of Transfer of Lease!

This will officially release the tenant from any responsibilities or liabilities under the lease, but until this is official, you want to make sure you uphold your obligations. 

Retail Leases

If you’re transferring a retail lease, the steps you need to take might look a little different. You may want to take a close look at the Retail Leases Act 1994 , as this covers retail leases. 

For example, the following things might be worth considering:

• Under a retail lease, as long as you have provided proof that the incoming tenant has good financial standing, you can force the landlord to provide consent
• However, if the incoming tenant is not financially reliable, the landlord is under no obligation to provide consent

It’s important to understand what you can and can’t do depending on the type of lease you’re under. You can read more about transferring leases here . 

Whether you need one drafted or looked at, we’d love to help! You can reach out to our friendly team on 1800 730 617 or [email protected] for a free, no-obligations consultation about your specific situation and the legal documents that are right for you.

Sprintlaw's expert lawyers make legal services affordable and accessible for business owners. We're Australia's fastest growing law firm and operate entirely online.

We'll get back to you within 1 business day.

• Full Name *
• Email Address *
• What are you looking for help with? *
• Email This field is for validation purposes and should be left unchanged.

Related Services

• Deed of Assignment/Transfer of Lease Review
• Deed of Assignment/Transfer of Lease
• IP Assignment Deed
• Deed of Assignment of Contract
• Deed of Accession

• Phone This field is for validation purposes and should be left unchanged.

Download our Top 3 Legal Mistakes guide.

Book in a free consultation with us to discuss your legal needs.

You're visiting Sprintlaw . Would you like to switch to Sprintlaw ?

• Business Purchase Package
• Business Sale Agreement
• Business Sale Agreement (Review Only) Package
• Business Sale Lawyer
• Business Sale Package
• Completion Checklist
• Convertible Note
• Franchise Grant Package
• Franchise Sale Agreement
• Legal Due Diligence Package
• Online Business Sale Agreement (IP and Goodwill Only)
• Online Business Sale Lawyer
• Sell Your Business Online
• Share and Unit Sale
• Share Sale Agreement & Constitution Review
• Share Sale Package
• Share Subscription Letter
• Software Reseller Agreement
• Unsolicited Consumer Agreement
• Vendor Finance Agreement
• Adopt A Constitution
• ARBN Application for an Incorporated Association
• Australian Subsidiary Set Up for US Company
• B-Corp Package
• Business Name Registration
• Business Name Registration (1 year)
• Business Name Registration (3 years)
• Canadian Australian Subsidiary Set Up
• Charity Set Up
• Co-operative Set Up
• Company Constitution
• Conflict of Interest Policy
• Corporate Lawyer Consult
• CSF Company Constitution
• Deed of Access & Indemnity
• Deed of Guarantee and Indemnity
• Deed of Waiver, Release and Indemnity
• Director’s Service Agreement
• Directors’ Resolution Template
• Domain Name Licence
• Dual Company Structure Package
• Founders Term Sheet
• Hybrid NFP Structure
• Intercompany IP Licence
• Legal Health Check
• Music Distribution Agreement
• NFP Constitution Amendment
• Option Deed
• Partnership Agreement
• Partnership Dissolution Agreement
• Register a Company
• Register as a Charity (ACNC)
• Rent Abatement Agreement
• Set Up a B-Corp
• Set up a Company Limited by Guarantee
• Set Up A Special Purpose Company
• Set up an Incorporated Association
• Set up an Incorporated Association in ACT
• Set up an Incorporated Association in NT
• Set up an Incorporated Association in QLD
• Set up an Incorporated Association in SA
• Set up an Incorporated Association in TAS
• Set up an Incorporated Association in VIC
• Set up an Incorporated Association in WA
• Share Vesting Agreement
• Shareholders Agreement
• Shareholders Agreement (Individual)
• Shareholders Agreement (Vesting)
• Shareholders Agreement Review
• Small Business Lawyers
• Social Enterprise Constitution
• Special Purpose Company Constitution
• Subsidiary Set Up
• Unitholders Agreement
• Agreement for Lease Review
• Commercial Lease Lawyers
• Commercial Lease Review
• Commercial Sublease Agreement
• Commercial Sublease Review
• Commercial Tenancy Agreement
• Drafting a Commercial Lease
• Drafting a Commercial Lease (SMSF)
• Drafting a Retail Lease
• Drafting a Retail Sublease
• Extension of Lease
• Extension Of Lease Review
• Heads of Agreement/Letter of Offer Review
• Lease Review (Amendment Advice)
• Lease Surrender Agreement
• Online Commercial Lease Lawyers
• Property Licence Agreement
• Property Licence Agreement (Shared Workspace)
• Retail Lease Review
• Retail Sublease Review
• Construction Lawyer
• Contract Review (Construction/Australian Standards)
• Dry Hire Agreement
• Freight Forwarding Agreement
• Joint Venture Agreement (Construction/Property)
• Labour Hire Agreement
• Removalist T&Cs
• Supply and Install Agreement
• Wet Hire Agreement
• Australian Consumer Law Consultation
• Commercial Lawyer Consult
• Consumer Lawyers
• Contract Review
• Customer Contracts
• Online Consumer Lawyers
• Warranties Against Defects Policy
• Website Copy Review
• Accountant Terms and Engagement Package
• Advisory Agreement
• Affiliate Marketing Agreement
• Agistment Agreement
• Airbnb Management Agreement
• Apprenticeship Agreement
• Asset Sale Agreement | Sprintlaw
• Authority to Act Form
• Beta Participation Agreement
• Brand Ambassador Agreement
• Bundled Products Terms & Conditions
• Business Terms & Conditions
• Buyer’s Agent Agreement
• Car Rental Agreement
• Child Care Agreement
• Clause Drafting
• Cleaner Service Agreement
• Co-founder Separation Agreement
• Co-founder Separation Consult
• Coaching Agreement
• Collaboration Agreement
• Commission Agreement
• Community Guidelines
• Competitions T&Cs
• Conjunction Agreement
• Consignment Agreement
• Consultancy Agreement
• Contract Amendment
• Contract Drafting
• Contract Lawyers
• Contract Review & Redraft
• Copyright Licence Agreement
• Credit Application and Terms of Trade
• Credit Application Terms
• Data Processing Agreement
• Debt Collection Agreement
• Deed of Novation
• Deed of Settlement
• Deed of Termination
• Deed of Variation
• Delivery Service Agreement
• Distribution Agreement
• Dropshipping Agreement
• Drug Testing Consent Form
• Electrical Service Agreement
• Employee Commission Agreement
• Endorsement Agreement
• Engagement Letter
• Event Planning Agreement
• Facility Management Agreement
• Forward Contract
• Franchise Disclosure Document Update
• Freelancer Agreement
• General Security Agreement
• Goods & Services Agreement
• Goods & Services Agreement (Online and Offline)
• Graphic Design T&Cs
• Gym Terms & Conditions
• Hardware Supply Agreement
• Heads of Agreement
• Health Service Provider Agreement
• Hire Agreement
• Hire Agreement (Online)
• Hire Purchase Agreement
• Import/Export Agreement
• Individual Flexibility Agreement
• Influencer Agreement
• Interior Design T&Cs
• International Contract Review
• Internship Agreement
• IT Services Agreement
• Joint Venture Agreement
• Joint Venture Agreement (Incorporated)
• Joint Venture Agreement (Unincorporated)
• Joint Venture Dissolution Agreement
• Loan Agreement
• Loan Agreement (Secured)
• Loan Agreement (Unsecured)
• Loan Agreement Review
• Location Release Form
• Managed Services Agreement
• Manufacturing Agreement
• Marketing Service Agreement
• Master Services Agreement
• Mechanical Workshop Terms & Conditions
• Medical Release Consent Form
• Memorandum of Understanding
• Model Release Form
• Mutual Non-Disclosure Agreement
• NDIS Consent Form
• NDIS Plan Management Service Agreement
• NDIS Service Agreement
• Negotiation Support
• Non-Compete Agreement
• Non-Disclosure Agreement
• Online Business Bundle
• Online Business Bundle | auDA Offer
• Online Coaching Agreement
• Online Contract Lawyers
• Online Course Agreement
• Parental Consent Form
• Participant Consent Form
• Personal Training Agreement
• Phantom Share Agreement
• Photographer T&Cs Package
• Photography/Video Consent Form
• Power Purchase Agreement
• Producer Agreement
• Profit Share Agreement
• Publishing Agreement
• Quick Review
• Real Estate Agent Agreement
• Recruitment & Labour Hire Agreement
• Recruitment T&Cs Package
• Referral Agreement
• Research & Development Agreement
• Reseller Agreement
• Retreat T&Cs Package
• Revenue Share Agreement
• Sale of Goods T&Cs
• Sales Agency Agreement
• Salon Rent-a-Chair Agreement
• Secondment Agreement
• Service Agreement
• Service Agreement (Property Stylist)
• Service Agreement (Trades)
• Service Level Agreement
• Share Buyback Agreement
• Share Farming Agreement
• Shareholders and Unitholders Agreement
• Signing Service
• Software Development Agreement
• Software Licence Agreement
• Software Licence Agreement and EULA
• Solar Installation & Power Purchase Agreement
• Solar Installation Services Agreement
• Sponsorship Agreement
• Standard Form of Agreement (Telecommunications)
• Statement of Work Review
• Sub-Contractor Agreement
• Sub-Contractor Agreement and Head Contract Review
• Subscription Terms & Conditions (Offline)
• Supply Agreement
• Sweat Equity Agreement
• Talent Management Agreement
• Talent Release Form
• Teaming Agreement
• Telehealth Service Agreement
• Terms of Sale
• Terms of Trade
• Tour Terms and Conditions Package
• Trade Mark Services | auDA Offer
• Trail Book Sale Agreement
• Training Agreement
• Travel Agency Agreement
• Unfair Contract Terms Review & Re-Draft
• Venue Hire Agreement
• Website Development Agreement
• Wet & Dry Hire Agreement
• Whistleblower Policy
• White Label Agreement
• Wholesale Agreement
• Work Experience Agreement
• Entertainment Lawyer
• Online Entertainment Lawyer
• Acceptable Use Policy
• Access Request Form
• Credit Reporting Policy
• Data & Privacy Lawyers
• Data Breach Notification
• Data Breach Response Plan
• Email Disclaimer
• GDPR Package
• Information Security Policy
• NDIS Privacy Policy
• Online Data & Privacy Lawyers
• Privacy Advice
• Privacy Collection Notice
• Privacy Complaint Handling Procedure
• Privacy Consent Form
• Privacy Impact Assessment Plan
• Privacy Policy
• Privacy Policy (Credit Provider)
• Privacy Policy (GDPR)
• Privacy Policy (Health Service Provider)
• Privacy Policy (Sensitive Information)
• Privacy Policy TrustRank
• Lead Generation Agreement
• Transfer A Trade Mark
• App Terms and Conditions
• Cookie Policy
• eCommerce (Alcohol) Terms and Conditions
• eCommerce Lawyers
• eCommerce Terms and Conditions
• Marketplace Terms and Conditions
• Mobile App Terms and Conditions
• Online Directory Terms and Conditions
• Online eCommerce Lawyers
• Online Goods & Services T&Cs
• Online Service Terms and Conditions
• Online Shop (Shopify) Terms and Conditions
• Online Shop Terms and Conditions
• Online Subscription Terms & Conditions
• Platform Terms and Conditions
• Platform Terms and Conditions (Premium)
• Shipping Policy
• Web and Mobile App Terms and Conditions
• Web App Terms and Conditions
• Website Terms & Conditions
• Website Terms & Conditions (Other)
• Website Terms of Use
• Award Compliance
• Casual Employment Contract
• Contractor Agreement
• Contractor Agreement Consult
• Employee or Contractor Advice | Sprintlaw
• Employee Privacy Handbook
• Employee Termination Documents Suite | Sprintlaw
• Employment Contract (Executive Level)
• Employment Contract Packages
• Employment Contracts (FT/PT)
• Employment Lawyers
• ESOP Review
• Generative AI Use Policy
• Modern Awards
• Parental Leave Policy
• Performance Management Process and Employee Termination Advice
• Personnel Security Policy
• Phantom Share Option Plan
• Phantom Share Scheme
• Redundancy Advice
• Redundancy Document Suite
• Restraint of Trade Advice
• Specialist Online Employment Lawyers
• Staff Handbook
• Volunteer Agreement
• Workplace Harrassment and Discrimination Claims (Employer)
• Workplace Policy
• Accidental Franchising Legal Advice
• Franchise Agreement
• Franchise Agreement – Quick Review
• Franchise Agreement Review
• Franchise Disclosure Register
• Franchise Lawyers
• Franchisor Package
• Online Franchise Lawyers
• Capital Raising Consult
• Capital Raising for Startups
• CSF Notification
• Information Memorandum Disclaimer
• Register a Security Interest
• SAFE Cap Table Package
• Share Buyback Package
• Share Sale Agreement
• Share Subscription Agreement
• Term Sheet (Capital Raise)
• Copyright Consult
• Copyright Disclaimer
• Evidence of Prior Use
• Extension of Time of Acceptance Application
• Intellectual Property Lawyers
• International Trade Mark (NZ Direct)
• International Trade Mark Application
• International Trade Mark Consultation
• IP Health Check
• New Representation (TM Headstart)
• Notice Of Intention To Defend
• Online Intellectual Property Lawyers
• Plant Breeders’ Rights
• Register your Trade Mark
• Registered Design Application
• Trade Mark (Additional Class)
• Trade Mark (Additional Related Trade Mark)
• Trade Mark – Headstart Package (Part 1 only)
• Trade Mark – Headstart Package (Part 2 only)
• Trade Mark – Headstart Package (Post Consultation)
• Trade Mark Adverse Report Advice
• Trade Mark Adverse Report Consult
• Trade Mark Initial Consultation
• Trade Mark Renewal
• Auspice Agreement
• Charity Charter
• Charity Lawyer
• Co-op (Non Distributing) Set Up (NSW)
• NFP / Charity Constitution
• Not-for-profit Consultation
• Online Charity Lawyer
• AFSL or ACL Advice
• FIRB Advice
• Legal Advice Package
• NDIS Lawyer
• NDIS Service Provider Consultation
• NDIS Service Provider Package
• Operating a Competition Advice
• Regulatory Compliance Lawyer
• API Agreement
• End User Licence Agreement
• SaaS T&Cs
• Saas Terms and Conditions with EULA
• Terms of Use
• FAST Agreement
• Startup Lawyers
• Accountants
• Accountants – All Articles
• Accountants – All Services
• Agribusiness
• Beauty Industry
• Childcare – All Articles
• Childcare – All Services
• Clothing Business
• Construction
• Consulting and Professional Services
• Creative – All Articles
• Creative Industries
• Creative Industries – All Services
• Education and Training
• Education and Training – All Articles
• Education and Training – All Services
• Event Planning & Management
• Fitness and Wellness Industry
• Fitness and Wellness Industry – All Articles
• Fitness and Wellness Industry – All Services
• Furniture & Homeware
• Hairdressing Business
• Healthcare and Medical Practices
• Healthcare and Medical Practices – All Articles
• Healthcare and Medical Practices – All Services
• Hospitality and Tourism
• Hospitality and Tourism – All Articles
• Hospitality and Tourism – All Services
• Instagram Business
• Legal Services
• Logistics and Transportation
• Logistics and Transportation – All Articles
• Logistics and Transportation – All Services
• Marketing Business
• Party Business
• Restaurant and Cafés
• Restaurant and Cafés – All Articles
• Restaurant and Cafés – All Services
• SaaS Business
• Sports & Recreation
• Technology and Software Development
• Technology and Software Development – All Articles
• Technology and Software Development – All Services
• Travel Agencies and Tour Operators
• Travel Agencies and Tour Operators – All Articles
• Travel Agencies and Tour Operators – All Services
• Getting Started With Your Legals
• Business Ideas and Plans
• Business Structure
• Business Partners
• Industry Regulations
• Building a Team: Employees and Contractors
• Online Business and Privacy
• Business Sales
• Commercial Leases
• Creative & Entertainment
• Data & Privacy
• Digital Marketing & Advertising
• Franchising
• Not-for-profits & Charities
• Regulatory Compliance
• Software & IT
• Uncategorized
• Health & Beauty

Let's Talk About Real Estate

Deed Of Assignment – Meaning, Uses, & Benefits

One of the biggest mistakes you could make in the real estate industry is to buy a property without collecting a deed of assignment property document . You might as well have just given the person the money. 

The deed of assignment is a very important document in the real estate sector that proves ownership over the property. 

The deed contains crucial details about the real estate transaction that may be relevant in court in case of any issues or problems that may arise.

Without a deed of assignment, you have no valid ownership over a property. 

Needless to say, it is a very important document that every property owner must be familiar with. 

What Is A Deed Of Assignment?

• Components Of A Deed Of Assignment 

Types of interests that can be assigned with a deed of assignment

• What Is The Difference Between A Deed Of Assignment And A Deed Of Conveyance? 
• Significance Or Reasons Of A Deed Of Assignment 

Frequently Asked Questions

A deed of assignment is a legal document that transfers the ownership rights, title, and interests of a property or other asset from one party to another.

The term is often used interchangeably with the term “deed of conveyance,” as there is only a little difference between both documents. 

The deed of assignment is typically used in circumstances where someone wants to transfer the ownership rights of a property to another party, either as a gift or as a sale.

The deed of assignment specifies the property or asset being transferred as well as the parties engaged in the transfer, including their names and addresses.

It also contains details regarding any monetary aspects of the transfer, such as the purchase price and any applicable taxes or fees.

Depending on the regulations of the jurisdiction where the transfer is occurring, the deed of assignment must be signed and dated by both parties in the presence of witnesses or a notary public. 

The deed becomes a binding legal instrument after it is signed, transferring ownership of the item from the original owner to the new owner.

A deed of assignment is frequently used in real estate transactions to transfer ownership of a property from a seller to a buyer.

In this situation, the buyer typically pays the seller the purchase price in exchange for transferring ownership rights. 

The deed will contain details about the property , the purchase price, and any other relevant terms and conditions of the sale.

Components Of A Deed Of Assignment 

For a deed of assignment to be valid, there is certain information that must be present in the paperwork. 

The components of a deed of assignment can vary depending on the jurisdiction and the specific requirements of the transaction.

You would need to find out what components should be in the deed for your country or city.

Also read: 10 Must-Have Important Property Document In Nigeria

The following are common elements that are typically included in a deed of assignment: 

• Parties involved: The deed will identify the parties involved in the transfer, including the present owner and the new owner. The full legal names and primary addresses of both parties will be listed in the document.
• Description of the property: The deed will contain a detailed description of the property or asset being transferred. Depending on the kind of property, this could include the address, legal description, or other identifying information.
• Transfer of ownership: The terms at which the present owner will transfer ownership of the asset to the new owner will be stated in the deed. It will also be stated that the transfer is final and irrevocable. The deed would also contain the specifics of the transaction if it is a sale. It will contain the purchase price and any other financial considerations involved in the transaction. This may include details about any deposits, down payments, or financing arrangements.
• Signatures and notarization: Both parties must sign and date the deed in the presence of witnesses or a notary public. This makes the transfer enforceable and legally binding.
• Legal warranties and representations: The deed may contain warranties or representations from the current owner about the ownership and condition of the property or asset being transferred. This may include statements about the absence of liens or encumbrances or the condition of the property.
• Governing law: The deed may specify the governing law that applies to the transaction. This helps to ensure that the transfer is conducted in accordance with applicable laws and regulations.

As earlier stated, a deed of assignment is a legal document used to transfer a specific interest or right in a property from one party to another. Several types of interests can be assigned with a deed of assignment, some of which are:

1. Leasehold interests

A leasehold interest is a right to use and live in a property for a specified period in exchange for rent. This kind of property interest is different from freehold ownership, which is the complete and long-term ownership of a piece of property.

A leasehold interest can be transferred through a deed of assignment from one tenant to another or from a tenant to a landlord . 

Once the deed is executed and the leasehold interest is transferred to the new tenant, the new tenant will be responsible for fulfilling the terms of the lease, including paying rent and complying with any other conditions or restrictions specified in the lease.

2. Mortgages and other security interests

A mortgage is a loan that is secured by a piece of real estate. When a borrower takes out a mortgage, they use the asset as security for the loan, and the lender takes on a property right in the asset until the debt is fully repaid.

An assignment of mortgage is a procedure that allows a mortgage to be transferred to a different lender. This involves using a deed of assignment to transfer the mortgage’s interest from the lender currently in possession of it (the assignor) to another lender (the assignee).

3. Easements and rights of way

An easement is a right to use a specific portion of another person’s property for a particular purpose, such as a right of way for access to a landlocked property.

This could mean access to use a driveway or pathway that crosses over a neighbor’s property.  

A deed of assignment can also be used to transfer an easement or right of way from one party to another.

The deed will specify the nature and extent of the easement being transferred so there are no misunderstandings between the parties involved. 

4. Intellectual property rights

Intellectual property rights are legal rights that protect creations of the mind, such as inventions, literary and artistic works, and symbols, names, and designs used in commerce.

Types of intellectual property rights include patents, trademarks, copyrights, and trade secrets.

Also read: Real Estate Logo – Designs, Ideas, & Components

A deed of assignment can also be used to transfer intellectual property rights from one party to another. 

Once the deed is executed and any necessary registration or filing requirements are met, the assignee will become the owner of the rights and will have the exclusive right to use, license, or otherwise exploit the intellectual property as they see fit, subject to any limitations or conditions specified in the assignment document.

What Is The Difference Between A Deed Of Assignment And A Deed Of Conveyance? 

A deed of assignment and a deed of conveyance are two very important documents that are common in real estate transactions.

They are often mixed up and this is simply because both are legal documents used to transfer ownership of property or assets from one party to another. 

A deed of assignment is used to transfer the existing rights to a property from one party to another, such as a leasehold interest, a mortgage, or an easement.

It does not transfer the ownership of the property itself, but rather a specific right or interest related to the property.

On the other hand, a deed of conveyance is used to transfer the ownership of a property from one party to another.

It establishes a new title for the buyer and confirms their ownership of the property.

Some differences between the two documents include:

1. Nature of the transfer

The nature of the transaction being carried out will determine which document is needed. A deed of assignment is typically used to transfer ownership of an existing property or asset from one party to another.

In contrast, a deed of conveyance is used to transfer ownership of a new or unregistered property from the seller to the buyer.

2. Legal effect

A deed of assignment is generally used in situations where the seller has a legal and valid title to the property, and is transferring ownership to the buyer.

The deed of assignment confirms the transfer of ownership and ensures that the seller has no further claim to the property.

In contrast, a deed of conveyance is used to create a new title for the buyer and transfer ownership from the seller to the buyer.

3. Registration

The method by which both documents are registered can also be used to distinguish between the two. A deed of conveyance must be registered with the relevant land registry or a government agency to be valid. 

This registration process creates a new title for the buyer and confirms their ownership of the property. While for a deed of assignment, registration may not be required by law but may still be recommended or necessary to protect your interests.

The content of both documents also differs and this can be used to tell them apart from each other. A deed of conveyance typically includes more details about the property being transferred, such as the property’s location , size, boundaries, and any existing encumbrances or restrictions on the property.

A deed of assignment, on the other hand, may focus more on the terms of the transfer, such as the purchase price and the date of transfer.

Significance Or Reasons Of A Deed Of Assignment 

It is impossible to overstate the significance of a deed of assignment. The significance of this deed lies in its ability to protect the rights of both the buyer and seller in a transaction.

1. Transfer Of Ownership

The main significance of the deed of assignment is to serve as evidence of the transfer of ownership of a property or asset from one party to another. It is a legal document that establishes the new owner’s right to possess, use, and dispose of the property or asset. 

The deed covers both the essential conditions as well as the specific terms that the parties to the transaction have agreed upon. 

2. Legal Protection

In the event of any problems or issues over the transfer of property, the deed of assignment gives both parties legal protection.

By signing a deed, both parties acknowledge their understanding of the terms of the transfer and agree to abide by those terms. 

3. Proof Of Ownership

For the new owner, a deed of assignment acts as ownership documentation for the new owner. This can be crucial when dealing with financial institutions, insurance providers, or other organizations that typically require proof of ownership before granting loans , insurance coverage, or providing other services.

4. Clear Title

A deed of assignment can help to establish a clear title for the property or asset being transferred. This is important because it can help to prevent any legal disputes or challenges to ownership in the future.

5. Compliance With Legal Requirements

In many jurisdictions, a deed of assignment is required by law to transfer ownership of certain types of property or assets.

By obtaining a deed of assignment, both parties can ensure that they comply with any legal requirements that may apply.

Who Drafts A Deed Of Assignment? 

Usually, a deed of assignment is drafted by the assignee’s lawyer. It is generally advisable to have a qualified legal professional draft the document to ensure that it is legally valid and binding.

What Is The Benefit Of A Deed Of Assignment?

The primary benefit of the deed is to protect the rights of ownership. Other benefits of the deed include formality purposes, confirming the validity of ownership, and guaranteeing that the best interests of the parties are properly represented. 

In conclusion, a deed of assignment is a very important document in the process of transferring ownership rights in real estate. 

It is used to protect the rights of both the buyer and the seller, and to ensure that the transfer is conducted in accordance with applicable laws and regulations.

And as such, it should be safeguarded and treated with the utmost security. 

Related News

Real Estate Power Of Attorney Document + Template

Land Purchase Receipt: Exclusive Details + Standard Sample

Land Excision: Meaning, Risks, And Benefits (2023)

Partnership

Sole proprietorship, limited partnership, compare businesses, employee rights, osha regulations, labor hours, personal & family, child custody & support, guardianship, incarceration, civil and misdemeanors, legal separation, real estate law, tax, licenses & permits, business licenses, wills & trusts, power of attorney, last will & testament, living trust, living will.

• Share Tweet Email Print

REAL ESTATE LAW

The definition of a leasehold deed of trust.

By Jennifer VanBaren

• What Is a Deed of Trust With Assignment of Rents?

A leasehold deed of trust is formed when a leaseholder acquires a long-term lease with another party and wants to build a structure of some kind on the property.

A written rental agreement for an extended period of time is referred to as a leasehold, which describes improvements made on property by the company leasing the land. It also describes options that may occur when the lease ends.

Deed of Trust

A deed of trust is a document pledging real property as collateral when securing a loan. The owner of the property deeds it to a beneficiary, which is typically the moneylender. When the loan is repaid in full, the title of the property returns to the owner. Read More: How to Take a Spouse Off of a Deed of Trust

Combination

A leasehold deed of trust combines a leasehold and a deed of trust. This document is used by companies that lease a property for a long-term period; the time period can vary, but it is typically for 20 years or more. The company leasing the land builds a structure on the property, but the owner of the land may obtain the loan for the building. If this happens, a leasehold deed of trust is created, which requires the company leasing the land to do so for the long term.

• US Legal: Leasehold Law & Legal Definition
• Tech Agreements: Leasehold Deed of Trust

Jennifer VanBaren started her professional online writing career in 2010. She taught college-level accounting, math and business classes for five years. Her writing highlights include publishing articles about music, business, gardening and home organization. She holds a Bachelor of Science in accounting and finance from St. Joseph's College in Rensselaer, Ind.

Related Articles

• What Is a Corporate Assignment of Deed of Trust?
• The Definition of Assignment & Assumption Agreement
• What is an Assignment of Trust Deed?

Deed of Assignment of Lease Agreement to transfer complete right to the Tenant.

Format of deed of assignment of lease agreement for transferring right to the tenant..

An assignment of a lease is a complete transfer of the right to be the tenant under the lease. The third-party assignee becomes the "tenant" under the lease, taking over all of the leased premises, substituting for the old tenant. When the lease is assigned, the assigner move out permanently and a new tenant moves in for the remainder of the lease term. An assignment of a lease differs from a sublet. With a sublet, the original tenant gives up an apartment temporarily. With an assignment, the original tenant gives up the apartment permanently. Assignment agreement should be legally binding, so it is necessary to prepare and sign a deed of assignment.

DEED OF ASSIGNMENT OF LEASE

THIS DEED OF ASSIGNMENT is made this ______ day of_____

Mr. _________________ son of _____________ Resident of _____________ hereinafter called "the Assignor" of the One Part:

Mr. _____________ Son of _____________ Resident of _____________ hereinafter called "the Assignee" of the Other Fart.

WHEREAS: 1. By a Deed of Lease dated_____________ and made between_____________ therein referred to as the Lessor of the One Part and the Assignor, therein referred to as the Lessee of the Other Part and registered with the Sub-Registrar of Assurances at _____________ under No _____________ of Book No. I on the _____________ the said Lessor demised unto the Assignor in perpetuity ALL that piece of land situate at_____________ and more particularly described in the Schedule thereunder being the same as described in the Schedule hereunder written together with the buildings and structures standing thereon at the rent and subject to the covenants and agreements therein contained;

2. By Clause_____________ of the said Deed of Lease it was in teralia provided as follows, "Not to assign the demised premises for the whole of the term hereby granted without the previous consent in writing of the Lessor his heirs, executors, administrators and assigns, which consent shall not be unreasonably withheld".

3. The Assignor has agreed with the Assignee for an assignment to him of the said demised premises for the remaining term in perpetuity free from all encumbrances at or for the price of Rs _____________.

4. The said Lessor by his letter dated_____________ has given his consent to the assignment of the demised premises.

NOW THIS DEED WITNESSETH that in pursuance of the said agreement and in consideration of the sum of Rs_____________ (Rupees) paid in the manner following viz. Rs_____________ on_____________ day of_____________ as earnest or deposit and Rs (Rupees) on or before the execution of these presents making together Rs _____________ (Rupees _____________ _____________. ) by the Assignee to the Assignor (the receipt whereof the Assignor doth hereby admit) He the Assignor hereby assigns unto the Assignee ALL that piece of land situate at_____________ in the Registration Sub-District of_____________ and more particularly described in the Schedule hereunder written TOGETHER WITH the buildings and structures thereon AND TOGETHER with all rights, liberties privileges, easements and appurtenances whatsoever to the said premises or any part thereof belonging or in anywise appertaining or usually held or occupied therewith or reputed to belong or be appurtenant thereto AND all the estate, right, title, interest property, claim and demand whatsoever of him the Assignor in and to the said premises or any part thereof TO HOLD the said land and other the premises hereby assigned unto the Assignee in perpetuity subject to the payment of ground rent of Rs_____________ reserved by the said Deed of Lease and to the performance and observance of the covenants and stipulations therein contained and on the part of the Lessee to be observed and performed and which henceforth on the part of the Assignee ought to be observed and performed.

AND THE ASSIGNOR COVENANTS WITH THE ASSIGNEE AS FOLLOWS - the said lease is now a valid and subsisting lease of the said premises hereinbefore expressed to be hereby assigned and is in no wise void or voidable that all the rents reserved and the covenants by the Assignor and the conditions contained in the said Deed of Lease have been paid, observed and performed upto the date of these presents; that the Assignor now has in himself good right and absolute power to assign the said premises unto the Assignee for the term and in the manner aforesaid that it shall be lawful for the Assignee from time to time and at all times hereafter during the said term to peaceably and quietly hold, possess and enjoy the said premises hereby assigned or expressed so to be with the appurtenances on and subject to said lease and receive the rents, and profits thereof for his own use and benefit without any eviction interruption claim or demand whatsoever from or by the Assignor or from or by any other person or persons lawfully or equitably claiming by, from, under or in trust for them. that the said premises are free and clear and freely clearly and absolutely acquitted, exonerated, released and forever discharged or otherwise by the Assignor well and sufficiently saved, defended, kepi harmless and indemnified of from and against all estates charges and encumbrances whatever made executed occasioned or suffered by the Assignor or by any other person or persons having or lawfully claiming by from under or in trust for him. that the Assignor and all persons having or lawfully claiming by. from, under or in trust for him shall and will from time to time and at all times hereafter during the said term at the request and costs of the Assignee do and execute or cause to be done and executed all such further and other lawful and reasonable acts, deeds, things, matters and assurances in the law whatsoever for further and more perfectly and absolutely assuring the said premises hereby assigned or expressed so to be and every part thereof unto and to the use of the Assignee for the residue of (he said term and in manner aforesaid as shall or may be reasonably required.

AND the Assignee doth hereby covenants with the Assignor that he the Assignee will henceforth during the said term pay the rents reserved by and perform all the covenants by the Lessee and conditions contained in the said Deed of Lease and keep indemnified the Assignor and his estate and effects from and against the payment of the said rent and the observance and performance of the said covenants and all actions, proceedings, costs, damages, claims, demands and liability whatsoever for or on account of the same or in anywise relating thereto.

IN WITNESS WHEREOF the parties hereto have hereunto set and subscribed their respective hands the day and year first hereinabove written.

THE SCHEDULE ABOVE REFERRED TO

Signed and Delivered by the within-named Assignor

Signed by the within-named Assignee

Received from the Assignee above-named a sum of Rs_____________ today which together with the sum of Rs_____________ paid on_____________ as earnest makes up the sum of_____________ Rupees (Rupees) being the full consideration money to be paid by him to me. Witnesses:

I say received.

Relevant Sections of Transfer of Properties Act 1882

Section 107 "Leases how made"

107. A lease of immovable property from year to year, or for any term exceeding one year, or reserving a yearly rent, can be made only by a registered instrument. All other leases of immovable property may be made either by a registered instrument or by oral agreement accompanied by delivery of possession. Where a lease of immovable property is made by a registered instrument, such instrument or, where there are more instruments than one, each such instrument shall be executed by both the lessor and the lessee: Provided that the State Government may, from time to time, by notification in the Official Gazette, direct that leases of immovable property, other than leases from year to year, or for any term exceeding one year, or reserving a yearly rent, or any class of such leases, may be made by unregistered instrument or by oral agreement without delivery of possession.

Section 108 "Rights and liabilities of lessor and lessee"

108. In the absence of a contract or local usage to the contrary, the lessor and the lessee of immovable property, as against one another, respectively, possess the rights and are subject to the liabilities mentioned in the rules next following or such of them as are applicable to the property leased :-

A. Rights and liabilities of the Lessor (a) the lessor is bound to disclose to the lessee any material defect in the property, with reference to its intended use, of which the former is and the latter is not aware, and which the latter could not with ordinary care discover; (b) the lessor is bound, on the lessee's request to put him in possession of the property; (c) the lessor shall be deemed to contract with the lessee that, if the latter pays the rent reserved by the lease and performs the contract binding on the lessee, he may hold the property during the time limited by the lease without interruption. The benefit of such contract shall be annexed to and go with the lessee's interest as such, and may be enforced by every person in whom that interest is for the whole or any part thereof from time to time vested. B. Rights and liabilities of the lessee (d) if during the continuance of the lease any accession is made to the property, such accession (subject to the law relating to alluvion for the time being in force) shall be deemed to be comprised in the lease; (e) if by fire, tempest or flood, or violence of any army or of a mob, or other irresistible force, any material part of the property be wholly destroyed or rendered substantially and permanently unfit for the purposes for which it was let, the lease shall, at the option of the lessee, be void : Provided that, if the injury be occasioned by the wrongful act or default of the lessee, he shall not be entitled to avail himself to the benefit of this provision; (f) if the lessor neglects to make, within a reasonable time after notice, any repairs which he is bound to make to the property, the lessee may make the same himself, and deduct the expense of such repairs with interest from the rent, or otherwise recover it from the lessor; (g) if the lessor neglects to make any payment which he is bound to make, and which if not made by him, is recoverable from the lessee or against the property, the lessee may make such payment himself, and deduct it with interest from the rent, or otherwise recover it from the lessor; (h) the lessee may even after the determination of the lease remove, at any time whilst he is in possession of the property leased but not afterwards, all things which he has attached to the earth : provided he leaves the property in the state in which he received it ;

Legal Formats, Alphabetical Order

Agreement Formats

ASSIGNMENT OF LEASE BY LESSEE

Read also: PERSONS DISQUALIFIED TO BECOME LESSEES

The lessee cannot assign the lease without the consent of the lessor.

The assignment of a lease by the lessee involves a transfer of rights and obligations pertaining to the contract; hence, the consent of the lessor is necessary.

There arises the new juridical relation between the lessor and the assignee who is converted into a new lessee.

C an a lessee assign the lease of the house to another, without the consent of the lessor?

No, unless there is a stipulation to that effect. 

The law says:

“The lessee cannot assign the lease without the consent of the lessor, unless there is a stipulation to the contrary.”

In the case of Josie Go Tamio v.  Encarnacion Ticson ( G.R. NO. 154895, November 18, 2004) , the Court explained that, the objective of the law in prohibiting the assignment of the lease without the lessor’s consent is to protect the owner or lessor of the leased property. In the case of cession or assignment of lease rights on real property, there is a novation by the substitution of the person of one of the parties – – the lessee. The personality of the lessee, who dissociates from the lease, disappears; only two persons remain in the juridical relation – – the lessor and the assignee who is converted into the new lessee.

Thus, there arises the new juridical relation between the lessor and the assignee who is converted into a new lessee.

Hence, the lessee cannot assign the lease without the consent of the lessor (creditor), unless there is a stipulation granting him that right.

Alburo Alburo and Associates Law Offices  specializes in business law and labor law consulting. For inquiries, you may reach us at [email protected], or dial us at (02)7745-4391/0917-5772207.

All rights reserved.

SUBSCRIBE NOW FOR MORE LEGAL UPDATES!

[email-subscribers-form id=”4″]

21 thoughts on “ ASSIGNMENT OF LEASE BY LESSEE ”

Appreciation to my father who shared with me on the topic of this website, this weblog is genuinely amazing.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

• Now Trending:
• UNDERSTANDING TENANCIES ...
• THE SENIOR PARTNER OF PR...
• Dr. Prince O. Williams-J...
• How To Pick The Right Ho...

DEED OF ASSIGNMENT: EVERYTHING YOU NEED TO KNOW.

A Deed of Assignment refers to a legal document in which an assignor states his willingness to assign the ownership of his property to the assignee. The Deed of Assignment is required to effect a transfer of property and to show the legal right to possess it. It is always a subject of debate whether Deed of Assignment is a contract; a Deed of Assignment is actually a contract where the owner (the “assignor”) transfers ownership over certain property to another person (the “assignee”) by way of assignment. As a result of the assignment, the assignee steps into the shoes of the assignor and assumes all the rights and obligations pertaining to the property.

In Nigeria, a Deed of Assignment is one of the legal documents that transfer authentic legal ownership in a property. There are several other documents like a deed of gifts, Assent, etc. However, this article focuses on the deed of assignment.

It is the written proof of ownership that stipulates the kind of rights or interests being transferred to the buyer which is a legal interest.

Read Also: DIFFERENCE BETWEEN TRANSFER OF PROPERTY THROUGH WILLS AND DEED OF GIFT

CONTENTS OF A DEED OF ASSIGNMENT

Content of a Deed of Assignment matters a lot to the transaction and special skill is needed for a hitch-free transaction. The contents of a deed of assignment can be divided into 3 namely; the introductory part, the second (usually the operative part), and the concluding part.

• THE INTRODUCTORY PART: This part enumerates the preliminary matters such as the commencement date, parties in the transaction, and recitals. The parties mentioned in the deed must be legal persons which can consist of natural persons and entities with corporate personality, the name, address, and status of the parties must be included. The proper descriptions of the parties are the assignor (seller) and assignee (buyer). The Recitals give the material facts constituting the background to the current transaction in chronological order.
• THE SECOND PART (USUALLY THE OPERATIVE PART): This is the part where the interest or title in the property is actually transferred from the assignor to the assignee. It is more like the engine room of the deed of assignment. The operative part usually starts with testatum and it provides for other important clauses such as the consideration (price) of the property, the accepted receipt by the assignor, the description of the property, and the terms and conditions of the transaction.
• The testimonium : this shows that all the parties are involved in the execution of the deed.
• Execution : this means signing. The capacity of the parties (either individual, corporate bodies, illiterates) is of great essence in the mode of execution.  It is important to note that the type of parties involved determines how they will sign. Example 2 directors or a director/secretary will sign if a company is involved. In the same way, if an association, couple, individual, illiterate, family land (omonile), firm, unregistered association, etc. is involved the format of signature would be different.
• Attestation : this refers to the witnessing of the execution of the deed by witnesses.

For a Deed of Assignment to be effective, it must include a column for the Governor of the state or a representative of the Government where the property is, to sign/consent to the transaction. By virtue of Sec. 22 of the Land Use Act, and Sec. 10 Land Instrument Registration Law, the Governor must consent to the transaction.

Do you have any further questions? feel free to call Ibejulekkilawyer on 08034869295 or send a mail to [email protected] and we shall respond accordingly.

Disclaimer: The above is for information purposes only and should not be construed as legal advice. Ibejulekkilawyer.com (blog) shall not be liable to any person(s) for any damage or liability arising whatsoever following the reliance of the information contained herein. Consult us or your legal practitioner for legal advice.

Only 22% of poorest Nigerian households have electricity access –World Bank

Related Posts

• December 1, 2023

Understanding the complexities surrounding the assignment of a lease is crucial for both tenants and landlords. Within the UK, various situations might compel a tenant to transfer their lease to another party. In this guide we will delve into the essentials, helping you understand every facet of a lease assignment.

What is an Assignment of Lease?

In the world of property management and real estate, the concept of an “assignment of lease” is fundamental. It involves a tenant, known as the assignor, transferring their entire legal interest in a property to another individual or entity, called the assignee. This process is common in both residential and commercial contexts and plays a significant role in maintaining the fluidity of property interests, especially in a dynamic market.

When a tenant signs a lease, they agree to specific commitments, including paying rent and maintaining the property, which are enforceable for a set period. However, various circumstances may prompt a tenant to vacate the property before the lease term expires. Herein lies the importance of the assignment of lease.

Through lease assignment, the original tenant can exit the property and pass on the responsibility to a third party, who then assumes the role of the tenant with all its incumbent responsibilities. It’s important to note that while the new tenant steps into the shoes of the original tenant, the lease terms remain unchanged.

For instance, if an individual rents a flat and later decides to move out before the lease’s expiration due to reasons such as relocating for a job or changing living situations, they may opt for an assignment of the lease. This strategy allows another person to take over the living space and adhere to the responsibilities under the original lease, ensuring that the flat does not remain unoccupied and the landlord continues to receive rent payments. This seamless transition can be especially beneficial in residential areas with high demand for housing, as it minimises financial instability for the landlord and provides immediate accommodation for those in need of a home.

Key Components of Lease Assignment

• Assignor and Assignee: The existing tenant (assignor) and the new tenant (assignee) are the primary parties in this agreement. Their willingness to transfer and assume the lease’s obligations, respectively, drives the assignment process.
• Landlord’s Role: While not a direct party to the assignment, the landlord plays a pivotal role. Most lease agreements stipulate that landlords must provide consent before any assignment takes place. This clause protects the landlord’s interests, ensuring the new tenant is reliable and meets the required standards.
• Legal Documentation: The process requires several legal documents, including the initial lease agreement and a deed of assignment. The latter must clearly articulate that all rights and responsibilities have been transferred to the new tenant. This precision prevents future disputes regarding the terms of the lease.
• Liabilities: The assignment of lease doesn’t inherently absolve the original tenant of responsibilities. Depending on the agreement’s terms, the assignor might remain liable if the assignee fails to fulfil the lease obligations. This potential continued liability underscores the importance of thorough assignee vetting.

The Legal Ground

The legality surrounding the assignment of a lease is rooted in UK property law. It necessitates compliance with various statutory requirements and often involves complex legal procedures. Consequently, parties usually engage solicitors to ensure that the assignment aligns with legal protocols, protecting the interests of all involved parties.

The assignment of a lease is a nuanced process, influenced by factors unique to each situation. Whether prompted by personal, business, or financial changes, lease assignments facilitate flexibility in property occupancy and use. Understanding this concept is crucial for tenants seeking an early exit from a lease, individuals looking for established lease properties, and landlords wishing to maintain continuous tenancy and income streams.

Understanding the Deed of Assignment of Tenancy

A “deed of assignment tenancy” is a legal document that evidences the transfer of lease obligations from the current tenant to another. It is an essential part of the lease assignment process, binding the new tenant to the terms stated in the original lease.

Landlord’s Checks Before Permitting Assignment of a Lease

The assignment of a lease, while beneficial in maintaining continuous occupancy and consistent rent payments, necessitates thorough due diligence on the part of the landlord. Before consenting to an assignment, it’s imperative for landlords to conduct comprehensive checks, mirroring the depth of evaluation done during the initial tenant screening process. These checks are crucial in mitigating potential risks and safeguarding the landlord’s investment.

Detailed Assessment of the Prospective Assignee

Landlords should ascertain the financial stability and reliability of the assignee. This assessment often involves:

• Credit Checks: This allows landlords to have a clearer understanding of the prospective assignee’s credit history, highlighting their ability to keep up with regular rent payments and financial commitments.
• Employment Verification: Landlords typically require proof of ongoing, stable employment. This verification helps ensure that the new tenant has a consistent income stream capable of covering the rent and other associated costs.
• References: Previous landlords or property managers can provide insights into the assignee’s behaviour, paying habits, and overall reliability. Personal references might also be necessary to form a more comprehensive view of the prospective tenant.

Review of the Assignee’s Intent

Understanding the prospective tenant’s reasons for seeking the property and their long-term intentions can provide reassurance. For instance, landlords should feel more comfortable knowing that the assignee plans to reside in the property for an extended period and doesn’t intend to sublet without permission or engage in unlawful activities.

Examination of Financial Documentation

Landlords may request documentation such as bank statements or savings accounts to further verify the assignee’s ability to afford the property. This scrutiny is particularly pertinent in higher-rent areas or for properties with higher maintenance costs.

Ensuring Contractual Compliance

It’s important for the landlord to confirm that the assignee understands and agrees to the terms set out in the original lease. The assignee must comply with all existing conditions, and any deviation needs to be negotiated with and approved by the landlord.

Legal Considerations

Given the legal complexities surrounding lease assignments, landlords often seek legal advice during this process. Lawyers can help ensure that the assignment adheres to local property laws, the original lease’s terms, and that the landlord’s interests are thoroughly protected throughout the transition.

By conducting these comprehensive checks, a landlord exercises due diligence, significantly reducing the likelihood of issues arising from the assignment of the lease. This meticulous approach helps maintain the property’s revenue stream, upholds community standards, and ensures the continued preservation and value of the property investment. It’s a proactive measure, providing the landlord with peace of mind that they are handing over their property to a reliable and responsible assignee.

Costs Involved in Lease Assignment

The process of lease assignment, while a practical solution for tenants looking to transfer their lease obligations, does entail various costs that both the assignor (original tenant) and assignee (new tenant) need to consider. These expenses contribute to a seamless transfer process, ensuring all legalities are properly managed, and all parties are adequately protected. Understanding these costs is essential as it prevents unexpected surprises and allows for a more transparent transaction.

Costs for the Assignor

• Advertising Costs: If the landlord does not immediately have a new tenant, the original tenant may need to advertise the property. This could involve online listings, printed materials, or hiring an estate agent to expedite the process, all of which incur costs.
• Tenant Screening Costs: The assignor might opt to conduct preliminary screenings of potential assignees, which include credit checks, reference checks, and other background investigations to ensure they’re presenting a reliable tenant to the landlord.
• Legal Fees: The legal intricacies of transferring a lease require the involvement of legal professionals. The assignor typically bears the cost for legal consultations, drafting the deed of assignment, and any related legal documentation.
• Landlord’s Administrative Fees: Some landlords charge an administrative fee for processing a lease assignment, covering the time and resources they expend to conduct their checks and modify their records.
• Potential Liability Costs: If the assignee fails to meet the lease obligations, and depending on the terms of the assignment, the original tenant may remain partially liable. This contingent liability could lead to future costs.

Costs for the Assignee

• Security Deposit: It’s standard practice for the new tenant to provide a security deposit before moving in. In some cases, the assignee reimburses the original tenant for the initial deposit, depending on its condition and any agreement between the parties.
• Advance Rent: The assignee may need to pay the first month’s rent in advance, similar to standard leasing arrangements.
• Legal Fees: Assignees also incur legal fees. They need legal counsel to review the terms of the lease, ensure the assignment is conducted correctly, and understand their new responsibilities and liabilities.
• Stamp Duty: Depending on the property’s value and the lease’s remaining duration, the assignee might need to pay Stamp Duty Land Tax (SDLT) on the premium or the rent of the lease.

Shared Costs

In some instances, both parties negotiate and equally share specific costs, such as those for legal consultations, to ensure fairness and mutual satisfaction in proceeding with the transaction.

Both assignors and assignees must factor in these expenses to accurately assess whether a lease assignment is a financially viable option. It is advisable to consult with real estate professionals and legal advisors to understand all potential charges fully. Having a clear, upfront understanding of these costs allows both parties to make informed decisions, ensuring a smooth, transparent, and fair transition process.

Does Assignment Create a New Tenancy?

No, an assignment does not create a new tenancy. It merely transfers the existing tenant’s rights and obligations to the new tenant, who then steps into the shoes of the original tenant under the same lease terms.

The Necessity of Legal Assistance

It is highly advisable to engage a solicitor during the assignment of a lease. A solicitor can provide necessary legal advice, prepare the deed of assignment of lease, and ensure compliance with various property and contract laws.

Deed of Assignment vs Tenancy Agreement

While they might sound similar, a deed of assignment is not the same as a tenancy agreement. The former refers to the document transferring existing lease rights to a new tenant, while the latter is a contract outlining the terms between a landlord and tenant for new occupancy.

Parties Involved in Signing the Deed of Assignment

The deed of assignment of lease is typically signed by the outgoing tenant, the incoming tenant, and sometimes, the landlord, especially when their consent is a prerequisite for the lease transfer.

Landlord’s Consent to Lease Assignment

A landlord can refuse to consent to assign a lease, but this refusal must be reasonable. Scenarios for justifiable refusal might include the prospective tenant’s inability to meet financial commitments or proposed use of the property that violates lease terms.

Lease Assignment vs Subletting

• Lease assignment involves the complete transfer of the tenant’s rights to another party.
• Subletting occurs when the tenant temporarily hands over the property rights to another party but retains some rights or eventually plans to return.

Financial Responsibilities in Lease Assignment

Typically, the outgoing tenant or the incoming tenant covers the costs related to the assignment of lease, such as legal fees, administrative charges, and any leasehold improvements. The specific arrangements may vary based on mutual agreements.

Assigning a Lease Without a Deed: Is It Possible?

No, a lease assignment must be evidenced by a deed to be legally binding. The deed of assignment tenancy is crucial as it protects the interests of all parties involved and provides legal clarity.

The Meaning of ‘Assignment’ in Rent Context

In the context of renting, ‘assignment’ refers to transferring the existing tenant’s lease obligations and rights to another party. The assignee assumes responsibility for rent payments and adherence to the lease terms.

Advantages of Assigning a Lease

There are several benefits associated with the assignment of a lease, including:

• Flexibility for the tenant needing to vacate the property before lease termination.
• Minimal interruption in rent payments for the landlord.
• Opportunity for another tenant to occupy the premises without having to negotiate a new lease.

Stamp Duty and Lease Assignment

Stamp duty on assignment of lease may apply depending on the premium paid and the lease’s yearly rent. It’s important to consult a solicitor to understand any potential tax implications.

Post-Assignment Liabilities for Tenants

After the assignment of a lease, the original tenant is generally released from future liabilities. However, they may remain liable if the new tenant defaults, depending on specific lease terms or if guarantees were provided.

Essential Documents for Lease Assignment

In the process of a lease assignment, several critical documents must be prepared, reviewed, and signed to ensure a legally binding transfer of rights and responsibilities from the original tenant (assignor) to the new tenant (assignee). These documents are crucial in defining the terms of the assignment, protecting the interests of all parties involved, and complying with legal standards. Here are the essential documents required for a successful lease assignment:

1. The Original Lease Agreement

• Before any transfer, all parties must review the original lease. It’s vital to understand any clauses or terms that could impact the assignment, such as conditions requiring the landlord’s consent for any lease transfer.
• The original lease agreement serves as the foundation for the assignment, outlining the terms and obligations that the assignee will need to adhere to.

2. Deed of Assignment of Lease

• This legal document formally transfers the lease obligations from the assignor to the assignee. It must clearly state the terms under which the lease is assigned, including any continuing liabilities of the assignor, if applicable.
• It should be comprehensive, detailing the rights and responsibilities of all parties and any guarantees provided by the assignor.
• The deed is usually drafted by a solicitor to ensure that it complies with legal standards and adequately protects everyone’s interests.

3. Landlord’s Consent to Assignment

• Most leases require the landlord’s formal approval for any assignment to occur. This document is the landlord’s written agreement, permitting the transfer from the current tenant to the new one.
• It may come with conditions the assignee must satisfy, which should be clearly outlined in the consent form.

4. Assignee’s Letter of Acceptance

• This document is proof that the assignee understands and agrees to the terms set out in the original lease and the deed of assignment.
• The letter may restate key lease terms for clarity and will affirm the assignee’s commitment to abide by all the lease conditions and responsibilities.

5. Legal Advisories

• Though not a formal part of the lease assignment, documentation of legal advice received by both the assignor and assignee (and possibly the landlord) is crucial.
• These advisories ensure each party has been informed of their legal rights and obligations, potentially offering protection in the event of future disputes.

6. Inventory List

• If relevant, an inventory list detailing the condition of the property, especially for furnished rentals, would be necessary. This document helps manage expectations and responsibilities concerning the property’s state and contents at the time of the assignment.

7. Proof of Assignee’s Financial Stability

• While not always formally part of the assignment documentation, evidence of the assignee’s ability to meet financial commitments (like bank statements or employment confirmation) often needs to be submitted to the landlord during the assignment process.

The process of assigning a lease is a complex legal transaction that requires strict adherence to procedural standards. These essential documents ensure that the assignment progresses smoothly, with clear understanding and agreement from all parties involved. Both assignor and assignee should seek legal counsel to ensure their interests are protected, and all documents are in order, further underscoring the importance of each document’s role in this pivotal real estate process.

Energy Performance Certificate (EPC) Requirements

Yes, an EPC is generally required for a lease assignment, especially if the building is to be sold or rented out. This certificate ensures that the property meets the necessary energy efficiency standards.

Registering an Assignment of Lease

Registration of an assignment of lease is crucial. It validates the change of tenant under the lease, making it legally binding and enforceable. This process usually involves submitting the deed of assignment to the appropriate land registry.

Timeframe for Assigning a Lease

Assigning a lease can take anywhere from a few weeks to several months, depending on factors like obtaining the landlord’s consent, the new tenant’s credibility, and the speed of legal processes.

Embracing the Benefits of Lease Assignment

Whether you’re a tenant seeking flexibility or a landlord desiring continued occupancy, lease assignment offers solutions that can cater to your individual needs, promoting ease and continuity in the leasing process.

If you’re considering a lease assignment, it’s paramount to seek professional advice to navigate the complexities involved. The information contained in this article should be used for information purposes only and should not be relied upon in place of specific legal advice.

Related Blog Posts

Top 3 Rental Growth Places

As the rental market continues to evolve, landlords must stay informed about the regions showing the most promise for rental growth.

Leasehold Reform Bill Becomes Law Without Ground Rent Cap

This article explores the implications of the new law for landlords and leaseholders.

Housing Market Remains Price Sensitive but Average House Prices Increase

This article explores the factors contributing to this rise and examines the dynamics at play in the current housing market.

• List Your Firm
• Contact HG.org
• Find a Law Firm:

What Is an Assignment of Leases and How Can a Real Estate Lawyer Help?

• LANDLORD AND TENANT LAW GUIDE
• » Lease Agreements and Negotiations
• » Laws Governing Everyday Living Disputes
• » Landlord's Legal Obligations for Maintenance and Repair
• » Eviction and Lease Termination
• » Discrimination Protections Under the Fair Housing Act
• ⇒ How A Lawyer Can Help with Landlord and Tenant Disagreements

Assigning a Lease

Assignments explained, more information on assignments.

More results...

Shared ownership leases: a quick-fire guide to assignments

In this quick-fire guide, we outline the steps social landlords should take when assigning a shared ownership lease to ensure the process runs smoothly:

• Use a license

Unless the leaseholder has staircased to 100%, the landlord’s consent will be required to assign the lease. To provide evidence of this consent, enter into a licence to assign, and state that the buyer and seller should do the same.

There was a series of model leases issued between 2012 and 2015, which required the buyer to enter into a direct deed of covenant with the landlord, but using a license to assign will enable you to do both in one document.

• Establish who is approving the mortgage offer

Every shared ownership mortgage offer requires landlord approval or it won’t benefit from the mortgagee protection clause. Establish from the outset whether the housing association, or its solicitors, will be approving mortgage offers, and what their criteria will be.

• Be clear on leasehold information

All leasehold sales, shared ownership or outright, will require a pack of standard information such as confirmation that rent and service charges aren’t in arrears, if any major works are planned, and if the landlord has taken steps to forfeit and close the lease. These packs often take a lot of time to produce, and once provided, there are usually further questions. Ensure you’re being clear with your leaseholders about how they get this information from you, and how much it will cost to produce this pack.

• Take expert advice

Most legal titles are the same but it’s important to get them checked as some information may not be immediately clear.  Specialist lawyers will be able to quickly review multiple titles and leases, and conclude precisely what documentation is required.

• Do your homework on notices and compliance certificates

The majority of leases require the buyer to serve notice on the landlord formally declaring they are the legal owner. There is also usually a restriction at HM Land Registry to ensure the landlord confirms the lease has been complied with before the new buyer is registered – the buyer will require a certificate to satisfy this restriction. Confirm who is providing the certificates, how much they are charging, and what information will be needed before it is issued.

By taking these steps and being clear with your people about who is responsible for key tasks, the assignment process should be straightforward and you will avoid any potential pitfalls.

For further information on staircasing or assigning an existing lease, please speak to Alasdair Muir or Lale Ali in our Real Estate and Projects Team . 

JOIN OUR MAILING LIST

The latest news from Devonshires, sent to you direct.

Join our mailing list and find out what we’re up to and what we think about recent events and future possibilities.

• Privacy Overview
• Strictly Necessary Cookies
• 3rd Party Cookies
• Cookie Policy

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.

This website uses Google Analytics to collect anonymous information such as the number of visitors to the site, and the most popular pages.

Keeping this cookie enabled helps us to improve our website.

Please enable Strictly Necessary Cookies first so that we can save your preferences!

Our cookie policy can be found here

Manuscripts and Special Collections

• Collections and Catalogues
• Collections by Subject
• Learning Resources
• Using Archives
• Dating Documents
• Weights and Measures
• Caring For The Collections
• Freehold land

Lease and assignment of lease

• Building lease
• Tenancy agreement
• Copyhold land
• Mortgaged land
• Settlements and entails
• Associated documents
• Table of deeds and documents
• Identification flowchart
• Further reading
• Maps and Plans
• Medieval Books
• Reading and Understanding Medieval Documents
• Schools Resources
• Exhibitions and Gallery
• Visiting the Reading Room
• Tours and Talks
• Reprographic Services
• Heritage Digitisation
• Email this Page

Temporary conveyance of property for a fixed period of time.

Features of leases

• 12th-20th centuries
• various sizes
• written on parchment or paper
• may be written in Latin until 1733
• indenture (wavy top edge)

Important words and phrases

Leases were granted by a 'lessor'. The person taking the lease was the 'lessee'.

How to identify a lease:

• The easiest way to spot a lease is to look for the phrase 'hath demised granted set and to farm let'. In Latin, the phrase is ' ad firmam dimisi '
• Leases are always granted for a certain period of time, after which time the land would revert to the lessor
• There will be a rent payable to the lessor at specified times during the year, and sometimes services carried out for the lessor. The words usually used here are 'yielding and paying...'

Other features of leases which might or might not appear are:

• A consideration, or 'entry fine' - sometimes a lease was granted in return for a cash payment
• Reservation of certain rights to the lessor, e.g. shooting rights, or the right to extract minerals
• Covenants and conditions relating to the upkeep of the property, or the husbandry expected on an estate
• Clauses detailing what steps could be taken if the lessee failed to pay rent or abide by the terms of the lease

Most leases were granted for one of the following terms:

• A term of months or years, as specified in the lease. 7 years, 14 years or 21 years were especially popular
• A term of lives. These leases were usually for the lives of three specified people, for example, 'during the natural lives of the said A aged about 65 years, his son B aged about 20 years and his daughter C aged about 18 years, and for the natural life of the survivor or longest liver of them'. In this case, the theory was that the property would remain in the family for a substantial amount of time, since every time one of the 'lives' died, the lease would be surrendered and demised again to another three lives. This form of lease - known as a 'lease for lives' - was popular in the seventeenth and eighteenth centuries.

Long building leases , and tenancy agreements  'from year to year' are discussed further in other pages in this Skills Unit.

User beware!

If the lease is for 6 months or a year, and there is a very small consideration (5 or 10 shillings), or a nominal rent such as a peppercorn or a red rose, then it is possible that the document is not a 'real' lease, but was drawn up for another purpose. It might well be part of a lease and release .

Likewise, very long leases for 500 or 1,000 years are probably documents relating to family settlements or mortgages .

Assignment of Lease

An Assignment of Lease was created when a lessee wished to leave leasehold property before the end of the term. With the consent of the lessor, he assigned the residue of the lease (the remaining period of time) to another person. The new lessee took on the lease according to all the original conditions. The assignment therefore looks back to the original lease, and begins with a recital of the original lease and its 'provisos' (conditions). The new part of the deed begins with the words 'Now This Indenture Witnesseth'. Another clue that it is an assignment comes with the words, 'have granted, bargained, sold, assigned and set over...', and with the statement that the property is assigned 'for and during the rest and residue of the term recited...'

Ne D 3792 - Counterpart lease from John Holles, 1st Earl of Clare and his wife to Henry Bell of a mansion house and all outbuildings in Nottingham; 7 Jan. 1629

View this deed

This is a good example of a deed of lease. It is written on a medium sized piece of paper, 49 cm wide by 27 cm high. It is in English.

We know it is a lease because of the following characteristics:

• It is an indenture, that is, the top of the deed is cut in a wavy line. This indicates that the deed was made between two or more parties. Some pairs of indentures were cut from the same sheet of parchment, and could be verified by checking that the top parts of each fitted together correctly
• It begins with the words 'This Indenture...'
• It includes the phrase 'grant and to farm lett'
• The property is transferred to Henry Bell for a term of 21 years
• There is an annual rent of twenty shillings, payable on the quarter days of Michaelmas (29 September) and Lady Day (25 March)
• It has been signed and sealed by Henry Bell, the lessee. This makes it a counterpart - the other part of the indenture was retained by the lessor

This transcription of the important parts of the lease has been broken down into the standard sections common to most deeds from the early modern period onwards.

[line 1] This Indenture made the seuententh day of January in the Year of the Raigne of our Souereigne Lord Charles by the grace

[line 2] of God, Kinge of England Scotland Fraunce and Ireland defender of the faythe &c. the fourth [i.e. 17 January 1628/9]

[line 2] Betweene the Right Hon[oura]ble John Earle

[line 3] Clare, And Lady Anne his Wiefe of the one p[ar]te, And Henry Bell of the Towne of Nottingh[a]m, Cordweyner of the other p[ar]te

Operative Parts or 'Testatum'

[line 3] Witnesseth

[line 4] that the said Earle, and Lady Anne his Wiefe, for divers good causes them hereunto mooueinge [moving], as also for the Rent hereafter in theis present[s]

[line 5] expressed & reserued, Have demised graunted and to farme Letten, And by theis p[rese]nt[s] doe demise graunt & to farme Lett, unto the said Henry

[line 6] Bell, his Executo[rs] Adm[inistrators] and Assignes

[line 6] One Mansion or dwellinge house, in Nottingh[a]m aforesaid, wherein hee the said Henry Bell now dwelleth

[line 7] Together with all other the out houses Cellars and Yard, to the said dwelling house belongeinge or usually letten

[line 7] To haue and to

[line 8] hould the said dwelling house, together with all the aforedemised p[re]misses, unto him, the said Henry Bell, his Executo[rs] Adm[inistrators] and Assignes

[line 9]from the Feast day of Thanunciac[i]on of our Blessed Lady Marye the Virgine, next and ym[m]ediatly ensueinge after the date of these p[rese]nts, for, and

[line 10] duringe the whole terme and tyme of One and Twenty Years, from, and next after the said Feast ensueinge fully to be compleate & ended

[line 11] Yealdinge, and payeinge, theirefore Yearely, unto the said Earle and Lady Anne his Wiefe, or the survivor of them, their Heyres Executo[res]

[line 12] or Adm[inistrators] the iust some of twenty shillings of Lawfull money of England, duringe the naturall Liefe of Patronell Allvy,wife of Henry

[line 13] Allvy, of Nottingh[a]m aforesaid Cordweyner, Att the twoo usuall terms & feasts in the yeare, That is to say, att the feast day of St Mychaell Tharchangell, and Thannunciac[i]on of our blessed Lady Mary the Virgine by even and equall porc[i]ons

Covenants, Conditions and Provisos

Covenants include:

• If Petronella Allvy dies before the term of 21 years ends, Henry Bell must pay four marks [13 shillings and 4 pence] annually to the Earl and his wife
• The Earl and his wife are entitled to enter the premises to distrain [seize goods] if the rent is unpaid for more than 14 days. They are entitled to re-possess the premises if the rent is unpaid for more than 28 days and no distraint is possible
• Henry Bell covenants to put the property into good repair at his own costs before 20 March 1630/31; and to maintain the good repair throughout the tenancy
• Henry Bell covenants to leave and deliver up the property at the end of the term

[line 35] In witnes hereof the p[ar]ties abouesaid to

[line 36] theis p[rese]nte Indentures interchaungeably haue sette to their hands and seales the day and yeare first aboue written

[Signature of Henry Bell]

Next page: Building lease

Kings Meadow Campus Lenton Lane Nottingham, NG7 2NR

telephone: +44 (0) 115 951 4565 fax: +44 (0) 115 846 8651 email: [email protected]

Browser does not support script.

Legal information

• Terms and conditions
• Posting rules
• Accessibility
• Freedom of information
• Charity gateway
• Cookie policy

Connect with the University of Nottingham through social media and our blogs .

• Legal GPS for Business
• All Contracts
• Member-Managed Operating Agreement
• Manager-Managed Operating Agreement
• S Corp LLC Operating Agreement
• Multi-Member LLC Operating Agreement
• Multi-Member LLC Operating Agreement (S Corp)

Demystifying Assignment of Lease: Your Go-To Guide

LegalGPS : July 29, 2023 at 8:17 AM

When you’re talking about property leasing, it’s important to understand that there are a lot of terms and concepts that you may have never heard before. One of them is the assignment of lease, which refers to a situation where a tenant transfers their rights and responsibilities under the lease agreement to another party.

What is an Assignment of Lease, and why is it so crucial?

An Assignment of Lease is a term you may have heard thrown around, especially if you're involved in rental properties. It’s a pretty important document. But what exactly is it? Well, in simple terms, an Assignment of Lease is an agreement where the original tenant of a property transfers their leases and all of its rights and obligations to a new tenant. Now, you might be wondering, "When would this scenario ever occur?"

Let's imagine you're a tenant who signed a three-year lease for an office space. However, two years in, you need to relocate due to unprecedented growth of your business. Instead of breaking the lease, you might choose to assign your lease to another business looking for office space. This means that you, as the original tenant, no longer have any obligations under the lease. The new tenant is now responsible for paying rent and complying with all of the terms of the previously signed agreement.

Now that you understand, let's get into the step-to-step guide on how to create an Assignment of Lease!

Steps to Write an Assignment of Lease

Creating a thorough Assignment of Lease agreement doesn't need to be an overwhelming task. Simply follow these steps to ensure your agreement is both comprehensive and legally binding:

Step 1: Identify the Parties

The information of each party should be included. For the existing tenant (the assignor), make sure to include:

Full legal name or business name

Postal mailing address

Phone number and email address

Do the same for the new tenant (the assignee). Make sure all the information is up-to-date and accurate to avoid any unnecessary confusion or disputes. For example, if the assignor is a business, make sure they have updated their mailing address with the post office to reflect their new building location. If a party has multiple addresses, be sure to list them all.

Step 2: Specify the Lease

This section requires exact information from the original lease agreement, including:

Property address and description

Lease start and end date

A reference to the original lease agreement (for instance, a sentence like "the lease agreement dated...")

Remember to include a copy of the original lease as an attachment to ensure the assignee understands the terms they're adhering to. If not already included in the original lease agreement, be sure to add the following information: Description of rental property, Lease term (how long the lease is good for), Rent amount, and Security deposit amount.

Step 3: Detail the Assignment

State that the assignor is transferring all their interests and obligations in the lease to the assignee. Here, write something like:

"The Assignor hereby assigns, transfers, and conveys to the Assignee all of the Assignor's rights, title, and interest in and to the Lease, together with all the Assignor's obligations, liabilities, and duties under the Lease."

This means that the assignor is transferring all of their interests and obligations in the lease to the assignee. This includes any future rent payments, repairs and maintenance responsibilities, notices of default by either party, and so on.

Step 4: Landlord's Consent

Many leases require the landlord's consent to assign the lease. The assignor should request written consent from the landlord and include a clause like:

"The assignment of the lease is not valid unless and until the landlord provides written consent."

This is followed by a place for the landlord to affirm consent by signing or initialing. This is important because the landlord can elect to withhold consent and the assignment will not be valid. If this is the case, you may need to provide additional consideration for your landlord's assent (for example, an increase in rent).

Step 5: Assignee Acceptance

Include a statement in which the new tenant agrees to the assignment and the terms of the lease. It may look like:

"The Assignee hereby accepts this assignment, assumes all duties and responsibilities under the Lease, and agrees to perform all of the Assignor's obligations under the Lease."

You need to do this because the new tenant needs to have an affirmative acceptance of the assignment in order for it to be valid. This is typically done through a letter from the assignee stating that they agree to perform all of your obligations under the lease.

Step 6: Signature and Date

Every binding legal document needs a date and a signature. Make sure that there is a proper place for the assignor and the assignee to sign and print their names, with a line for the date.

By following these clear, actionable steps, you'll be able to construct an effective Assignment of Lease agreement. Remember, every situation is unique, so adjust the template as necessary, being sure to include all relevant details.

Clear so far? Great! Now, let's focus on the tips to draft a perfect Assignment of Lease.

Tips to Draft a Perfect Assignment of Lease

Accurate Dates: Be sure to include the date when this agreement will take effect. Precision avoids any confusion about durations, when the assignee takes over, or when the assignor's obligations end.

Clear Terms: This document should restate the terms of the original lease. The assignee needs a clear understanding of what they're stepping into. Bit ambiguous? Think of it like this: the assignee should be able to step into the assignor's shoes comfortably.

Specify Rent Terms: Stating the rent amount, due dates, and method of payment in the assignment helps create a record of the agreed-upon rent terms, ensuring no misunderstanding arises in the future.

Specify the Term: The assignment should state how long the new lease lasts. For example, if the original lease is for one year, then the assignee will assume only a one-year term.

Specify Other Conditions: If there are other conditions in place—such as tenant improvements or utility allowances—then specify these too.

An assignment of lease doesn't have to be a formidable task to overcome. With a cautious and considered approach, these documents can be a smooth and seamless part of managing a successful lease transition.

Our contract templates can offer you even more support, empowering you towards crafting an excellent and individualised Assignment of Lease ready for your task. So why not take your next step towards leasing success and check them out today? Click here to get started!

Modified Gross Lease for Business Owners: A Comprehensive Guide

As business owners, we're always seeking opportunities to optimize our costs while securing the best deals for our companies. Real estate leasing is...

Mastering Equipment Leasing: A Comprehensive Guide & Why You Need a Reliable Contract Template

Ever wondered how some businesses manage to use high-end equipment without tying up their capital? The answer lies in Equipment Leasing – an...

Step-By-Step Guide: How To Write A Sales Representative Agreement

Starting a journey as an entrepreneur, there comes a moment when you need to expand your sales team or engage with independent sales representatives....

Poyner Spruill Welcomes Education Law Practice Group

Protecting an Interest in a Ground Lease – A Lender’s Perspective

• &body=https://www.poynerspruill.com/thought-leadership/protecting-an-interest-in-a-ground-lease-a-lenders-perspective/"> Email
• Print Created with Sketch.

Lenders are often asked to provide financing secured by a leasehold interest in land evidenced by a ground lease. A ground lease is an agreement between the fee owner of real estate (the ground lessor or landlord) and its tenant (the ground lessee) in which the fee owner leases the land to the tenant. Ground leases are typically for a longer term than a basic space lease and allow the tenant to construct improvements on the land and operate the improvements during the term of the ground lease. Because the collateral for leasehold financing typically consists only of the leasehold rights of its borrower under the ground lease, lenders should carefully review the terms of the ground lease to ensure that it contains certain minimum lender protections.

An astute drafter of a ground lease will consider a future mortgage of the ground lease in its initial preparation of the lease, but often, critical lender protections are not included, and this is especially true of older ground leases. While a landlord is generally not interested in amending the terms of the ground lease to satisfy the requirements of a lender providing leasehold financing, a landlord should understand that the tenant’s interest in the ground lease must be financeable.

In addition to the protections in a lender’s leasehold deed of trust, a lender will often need to request that a ground lease be amended or that a separate agreement regarding ground lease be executed to address any lender protections that may have been omitted from the initial ground lease. Below is an overview of the minimum protections that a lender should consider when financing a loan secured by a ground lease.

• Basic Terms. The term of the ground lease should extend well past the maturity of the loan and should specifically address the tenant’s right to mortgage, sublease and assign the lease. A broad list of permitted uses of the property is preferred to give the tenant, the lender and foreclosure sale purchasers the flexibility to change the use of the property should the initial concept fail. To protect the tenant’s interest in the ground lease and put a third party on notice, the ground lease should be evidenced by a short form memorandum thereof recorded in the real estate records.
• Casualty/Condemnation. A key provision of any ground lease is the use of any casualty or condemnation proceeds relating to the property. Since the improvements located on the land generally belong to and have been constructed by the tenant, the ground lease should provide that any insurance proceeds relating to the destruction of any improvements be paid to the tenant. The lender should require that it be named as the “mortgagee” and “lender’s loss payable” on any insurance covering the improvements and the loan documents should require that such proceeds be paid directly to the lender. Similarly, condemnation proceeds attributable to the leasehold estate and the taking of the improvements should be paid directly to the lender. In addition, the lender should have the ability to participate in any condemnation proceedings to sufficiently protect its rights.
• Notice and Right to Cure. The lender should have the ability to cure any tenant defaults under the ground lease after receiving notice from the landlord. This cure period should be in addition to the time allotted to the tenant since the lender may have to foreclose or appoint a receiver prior to curing the default.
• Acquisition by Lender; Entrance into New Lease . Upon the lender’s foreclosure of its leasehold mortgage or taking of a deed-in-lieu of foreclosure, the lender or any party taking title through the lender should have the right to become the tenant under the ground lease without any further consent by landlord. Similarly, if the bankruptcy of the tenant results in a termination of the ground lease, the lender should have the right to compel the landlord to enter into an identical lease with the lender or successor owner as the new tenant.
• Liability . If the lender or another party taking title through the lender takes title to the leasehold interest, such party should only be liable for those obligations of the tenant from the time that the lender or successor owner takes title to the property. The ground lease should also provide that the landlord cannot seek recovery of any losses from the lender beyond its interest in the property. Finally, following an assignment of the ground lease by the lender to a successor owner, the lender should be released from all obligations and liability under the ground lease.
• Amendments; Fee Mortgages . The ground lease should acknowledge that the ground lease may not be amended, modified or terminated without the prior written consent of any leasehold lender that has notified the landlord of its interest. In addition, the ground lease should prohibit the landlord from mortgaging its fee simple interest in the property without the prior written consent of the leasehold lender or, in the alternative, without first getting a non-disturbance agreement in favor of the leasehold lender from the mortgagee of the fee simple interest.
• Waiver/Subordination of Liens . The ground lease should provide that any liens that the landlord has or may acquire against the property during the term of the loan will either be waived or subordinated to the lien of the leasehold lender.
• Repurchase Rights; Rights of First Refusal . Repurchase rights and rights of first refusal in favor of the landlord should be subordinated to the lien of the leasehold mortgage and specifically identified as inapplicable to a foreclosure of the leasehold interest or taking of a deed-in-lieu of foreclosure. Such a clause is helpful in avoiding the impairment or delay of a leasehold lender’s exercise of its rights and remedies following a loan default.
• Environmental Concerns . A lender should treat the financing of the leasehold estate in land like the financing of a fee simple estate for purposes of environmental due diligence. Any environmental reports and questionnaires required by a lender when financing a fee simple interest in property should similarly be required when financing a ground lease. If environmental issues do exist on the property, the ground lease should clearly address the responsibilities of both the landlord and tenant.

In the event that some or all of these provisions are not contained in the ground lease, a leasehold lender should request that either the ground lease be amended to include them or that the landlord execute and record an agreement in favor of the leasehold lender in which the landlord grants the lender with these rights. In addition, it is good practice to have such agreement incorporate, or have the landlord provide an estoppel certificate as of closing, which confirms that (i) the ground lease has not been amended or modified, (ii) the tenant is not then in default under the ground lease, (iii) all agreements between landlord and tenant are contained in the ground lease, (iv) the landlord is not aware of any prior assignment of the tenant’s interest in the ground lease, and (v) that the landlord has no current right to terminate the ground lease. The lender should have the right to request an estoppel certificate from time to time to confirm that the tenant remains in compliance with the ground lease during the term of the loan.

A tenant’s leasehold interest in land can serve as a valuable piece of collateral, but leasehold lenders must carefully review the ground lease and take the necessary steps to ensure that certain protections are included in the ground lease or in a separately negotiated agreement between the landlord and lender.

• Business Set Up
• Consumer Law
• Data & Privacy
• Employment Law
• Getting Finance
• Intellectual Property
• Technology and Software
• Professional Services
• Construction & Trades
• Fitness, Health and Wellness
• Online Business
• Food & Hospitality
• Meet the Team
• Quick Q&As
• Get Started
• Member Login

Assigning A Lease – How A Deed Of Assignment Works

When you’re entering or leaving a business premise as a tenant in New Zealand, it’s crucial to check if you need to transfer a lease. In other words, if the ownership of the business is changing, you need to make this official with your tenant. 

This is known as ‘assigning a lease’ or ‘transferring a lease’. It occurs when you’re selling your business and the buyer agrees to be bound by the existing lease, or you’ve decided to move premises and have found another business willing to take over your current lease.

Essentially, when you assign your lease, you’ll be handing over the rights and obligations of that lease to another party . It’s important to ensure you’re not left liable for any part of the old lease! 

This is also known as a Deed of Assignment , which we’ve written about in more detail here . 

The Process Of Transferring A Lease

Transferring a lease in New Zealand doesn’t have to be a complicated process. Let’s simplify it. 

1. Review The Existing Lease

Firstly, you’ll need to check that there aren’t any conditions in the lease that would prevent it from being transferred. Review the terms of your lease carefully, and consider consulting a lawyer to assist with this step! 

2. Landlord’s Consent

Once you’ve confirmed that the lease can be assigned, you’ll need the landlord’s written consent and understand any requirements for the transfer. Each landlord may have different stipulations, so clear communication is key. 

3. Discuss The Assignee

Next, discuss with your landlord who will be taking over the lease, known as the incoming tenant. Gather their name, contact details, and any relevant documents needed for the transfer, such as evidence of their financial standing or business experience. 

Following this, the landlord confirms their consent to the transfer, and the incoming tenant agrees to it. This is formalised in a Deed of Consent to Assignment . 

The assignee will then agree to take on the rights under the existing lease from a specified date until the lease term concludes. 

All parties should review the terms of the Agreement to ensure they are satisfied with their obligations and the rights or interests they will hold in the lease. 

I’m The Outgoing Tenant – What Else Should I Do?

With the landlord’s consent in place, you can proceed with creating a Deed of Transfer of Lease.

This document will officially release you from any responsibilities or liabilities under the lease. However, until this is formalised, continue to fulfil your lease obligations. 

Retail Leases

If you’re transferring a retail lease, the steps you need to take in New Zealand may differ. It’s advisable to review the Commercial Tenancies Act 1991 , which governs retail leases. 

Considerations may include:

• Under a retail lease, providing evidence of the incoming tenant’s financial reliability can help in obtaining the landlord’s consent.
• If the incoming tenant lacks financial credibility, the landlord is not obliged to consent to the transfer.

Understanding your rights and obligations under the type of lease you hold is essential. More information about transferring leases can be found here . 

If you need a lease drafted or reviewed, we’re here to assist! Contact our friendly team on 0800 002 184 or [email protected] for a free, no-obligation consultation about your specific situation and the legal documents that suit your needs.

We're an online legal provider operating in New Zealand, Australia and the UK. Our team services New Zealand companies and works remotely from all around the world.

We'll get back to you within 1 business day.

• Full Name *
• Email Address *
• What are you looking for help with? *
• Email This field is for validation purposes and should be left unchanged.

Related Services

• Deed of Assignment/Transfer of Lease
• Deed of Assignment of Contract
• Deed of Assignment/Transfer of Lease Review
• IP Assignment Deed
• Deed of Accession

• Name This field is for validation purposes and should be left unchanged.

Download our Top 3 Legal Mistakes guide.

Book in a free consultation with us to discuss your legal needs.

You're visiting Sprintlaw . Would you like to switch to Sprintlaw ?

• Business Purchase Package
• Business Sale Agreement
• Business Sale Agreement (Review Only) Package
• Business Sale Lawyer
• Business Sale Package
• Completion Checklist
• Convertible Note
• Franchise Grant Package
• Franchise Sale Agreement
• Legal Due Diligence Package
• Online Business Sale Lawyer
• Sell Your Business Online
• Share and Unit Sale
• Share Sale Agreement & Constitution Review
• Share Sale Package
• Share Subscription Letter
• Software Reseller Agreement
• Unsolicited Consumer Agreement
• Vendor Finance Agreement
• Adopt A Constitution
• B-Corp Package
• Canadian New Zealand Subsidiary Set Up
• Charity Set Up
• Co-operative Set Up
• Company Constitution
• Conflict of Interest Policy
• Corporate Lawyer Consult
• CSF Company Constitution
• Customer Contracts
• Deed of Access & Indemnity
• Deed of Guarantee and Indemnity
• Deed of Waiver, Release and Indemnity
• Director’s Service Agreement
• Directors’ Resolution Template
• Domain Name Licence
• Dual Company Structure Package
• Foreign Branch Set Up
• Founders Term Sheet
• Intercompany IP Licence
• Legal Health Check
• Medicinal Cannabis Businesses Lawyers
• NFP / Charity Constitution
• Option Deed
• Partnership Agreement
• Partnership Dissolution Agreement
• Register a Company
• Register As A Charity
• Rent Abatement Agreement
• Set Up a B-Corp
• Set up a Company Limited by Guarantee
• Set Up A Special Purpose Company
• Set up an Incorporated Society
• Share Vesting Agreement
• Shareholders Agreement
• Shareholders Agreement (Vesting)
• Shareholders Agreement Review
• Social Enterprise Constitution
• Unitholders Agreement
• Agreement for Lease Review
• Commercial Lease Lawyers
• Commercial Lease Review
• Commercial Sublease Agreement
• Commercial Sublease Review
• Commercial Tenancy Agreement
• Drafting a Commercial Lease
• Drafting a Retail Lease
• Drafting a Retail Sublease
• Extension of Lease
• Extension Of Lease Review
• Heads of Agreement/Letter of Offer Review
• Lease HOA Review
• Lease Review (Amendment Advice)
• Lease Surrender Agreement
• Online Commercial Lease Lawyers
• Property Licence Agreement
• Retail Lease Review
• Retail Sublease Review
• Construction Lawyer
• Contract Review (Construction/New Zealand Standards)
• Dry Hire Agreement
• Freight Forwarding Agreement
• Joint Venture Agreement (Construction/Property)
• Labour Hire Agreement
• Online Construction Lawyer
• Removalist T&Cs
• Supply and Install Agreement
• Wet Hire Agreement
• Commercial Lawyer Consult
• Consumer Guarantees Act Consultation
• Consumer Lawyers
• Contract Review
• New Zealand Consumer Law Consultation
• Online Consumer Lawyers
• Warranties Against Defects Policy
• Accountant Terms and Engagement Package
• Advisory Agreement
• Affiliate Marketing Agreement
• Agistment Agreement
• Airbnb Management Agreement
• Apprenticeship Agreement
• Asset Sale Agreement | Sprintlaw
• Authority to Act Form
• Beta Participation Agreement
• Brand Ambassador Agreement
• Bundled Products Terms & Conditions
• Business Terms & Conditions
• Buyer’s Agent Agreement
• Car Rental Agreement
• Child Care Agreement
• Clause Drafting
• Cleaner Service Agreement
• Co-founder Separation Agreement
• Co-founder Separation Consult
• Coaching Agreement
• Collaboration Agreement
• Commission Agreement
• Community Guidelines
• Competitions T&Cs
• Conjunction Agreement
• Consignment Agreement
• Consultancy Agreement
• Contract Amendment
• Contract Drafting
• Contract Lawyers
• Contract Review & Redraft
• Copyright Licence Agreement
• Credit Application and Terms of Trade
• Credit Application Terms
• Data Processing Agreement
• Debt Collection Agreement
• Deed of Novation
• Deed of Settlement
• Deed of Termination
• Deed of Variation
• Delivery Service Agreement
• Distribution Agreement
• Dropshipping Agreement
• Drug Testing Consent Form
• Electrical Service Agreement
• Employee Commission Agreement
• Endorsement Agreement
• Engagement Letter
• Event Planning Agreement
• Facility Management Agreement
• Forward Contract
• Franchise Disclosure Document Update
• Freelancer Agreement
• General Security Agreement
• Goods & Services Agreement
• Goods & Services Agreement (Online and Offline)
• Graphic Design T&Cs
• Gym Terms & Conditions
• Hardware Supply Agreement
• Heads of Agreement
• Health Service Provider Agreement
• Hire Agreement
• Hire Agreement (Online)
• Hire and Rental Agreements
• Hire Purchase Agreement
• Import/Export Agreement
• Individual Flexibility Agreement
• Influencer Agreement
• Interior Design T&Cs
• International Contract Review
• Internship Agreement
• IT Services Agreement
• Joint Venture Agreement
• Joint Venture Agreement (Incorporated)
• Joint Venture Agreement (Unincorporated)
• Joint Venture Dissolution Agreement
• Loan Agreement
• Loan Agreement (Secured)
• Loan Agreement (Unsecured)
• Loan Agreement Review
• Location Release Form
• Managed Services Agreement
• Manufacturing Agreement
• Marketing Service Agreement
• Master Services Agreement
• Mechanical Workshop Terms & Conditions
• Medical Release Consent Form
• Memorandum of Understanding
• Model Release Form
• Mutual Non-Disclosure Agreement
• Negotiation Support
• Non-Compete Agreement
• Non-Disclosure Agreement
• Online Coaching Agreement
• Online Contract Lawyers
• Online Course Agreement
• Parental Consent Form
• Participant Consent Form
• Personal Training Agreement
• Phantom Share Agreement
• Photographer T&Cs Package
• Photography/Video Consent Form
• Power Purchase Agreement
• Producer Agreement
• Profit Share Agreement
• Publishing Agreement
• Real Estate Agent Agreement
• Recruitment & Labour Hire Agreement
• Recruitment T&Cs Package
• Referral Agreement
• Research & Development Agreement
• Reseller Agreement
• Retreat T&Cs Package
• Revenue Share Agreement
• Sale of Goods T&Cs
• Sales Agency Agreement
• Salon Rent-a-Chair Agreement
• Secondment Agreement
• Service Agreement
• Service Agreement (Property Stylist)
• Service Agreement (Trades)
• Service Level Agreement
• Share Buyback Agreement
• Share Farming Agreement
• Signing Service
• Software Licence Agreement
• Software Licence Agreement and EULA
• Solar Installation & Power Purchase Agreement
• Solar Installation Services Agreement
• Sponsorship Agreement
• Standard Form of Agreement (Telecommunications)
• Statement of Work Review
• Sub-Contractor Agreement
• Sub-Contractor Agreement and Head Contract Review
• Subscription Terms & Conditions (Offline)
• Supply Agreement
• Sweat Equity Agreement
• Talent Management Agreement
• Talent Release Form
• Teaming Agreement
• Telehealth Service Agreement
• Terms of Sale
• Terms of Trade
• Tour Terms and Conditions Package
• Trail Book Sale Agreement
• Training Agreement
• Travel Agency Agreement
• Venue Hire Agreement
• Website Development Agreement
• Wet & Dry Hire Agreement
• Whistleblower Policy
• White Label Agreement
• Wholesale Agreement
• Work Experience Agreement
• Entertainment Lawyer
• Online Entertainment Lawyer
• Acceptable Use Policy
• Access Request Form
• Credit Reporting Policy
• Data & Privacy Lawyers
• Data Breach Notification
• Data Breach Response Plan
• Email Disclaimer
• GDPR Package
• Information Security Policy
• Online Data & Privacy Lawyers
• Privacy Advice
• Privacy Collection Notice
• Privacy Complaint Handling Procedure
• Privacy Consent Form
• Privacy Incident Response Plan
• Privacy Policy
• Privacy Policy (Credit Provider)
• Privacy Policy (GDPR)
• Privacy Policy (Health Service Provider)
• Privacy Policy (Sensitive Information)
• Lead Generation Agreement
• Transfer A Trade Mark
• App Terms and Conditions
• Cookie Policy
• eCommerce (Alcohol) Terms and Conditions
• eCommerce Lawyers
• eCommerce Terms and Conditions
• Marketplace Terms and Conditions
• Online Directory Terms and Conditions
• Online eCommerce Lawyers
• Online Goods & Services T&Cs
• Online Service Terms and Conditions
• Online Shop (Shopify) Terms and Conditions
• Online Shop Terms and Conditions
• Online Subscription Terms & Conditions
• Platform Terms and Conditions (Premium)
• Shipping Policy
• Website Terms & Conditions
• Website Terms & Conditions (Other)
• Website Terms of Use
• Casual Employment Contract
• Contractor Agreement
• Contractor Agreement Consult
• Custom Workplace Policy
• Employee or Contractor Advice | Sprintlaw
• Employee Privacy Handbook
• Employee Termination Documents Suite | Sprintlaw
• Employment Contract (Executive Level)
• Employment Contract Packages
• Employment Contracts (FT/PT)
• Employment Lawyers
• ESOP Review
• Generative AI Use Policy
• Parental Leave Policy
• Performance Management Process and Employee Termination Advice
• Personnel Security Policy
• Phantom Share Option Plan
• Phantom Share Scheme
• Redundancy Advice
• Redundancy Document Suite
• Restraint of Trade Advice
• Specialist Online Employment Lawyers
• Staff Handbook
• Volunteer Agreement
• Workplace Harrassment and Discrimination Claims (Employer)
• Accidental Franchising Consult
• Franchise Agreement
• Franchise Agreement – Quick Review
• Franchise Agreement Review
• Franchise Lawyers
• Franchisor Package
• Online Franchise Lawyers
• Capital Raising Consult
• Capital Raising for Startups
• Information Memorandum Disclaimer
• Register a Security Interest
• SAFE Cap Table Package
• Share Buyback Package
• Share Sale Agreement
• Share Subscription Agreement
• Term Sheet (Capital Raise)
• Copyright Consult
• Copyright Disclaimer
• Evidence of Use
• Intellectual Property Lawyer Consult
• Intellectual Property Lawyers
• International Trade Mark Application
• International Trade Mark Consultation
• IP Health Check
• Online Intellectual Property Lawyers
• Register your Trade Mark
• Registered Design Application
• Trade Mark (Additional Class)
• Trade Mark (Additional Related Trade Mark)
• Trade Mark Adverse Report Consult
• Trade Mark Initial Consultation
• Trade Mark Opposition Counter-Statement
• Trade Mark Renewal
• Trade Mark Search Report
• Auspice Agreement
• Charity Charter
• Charity Lawyer
• Not-for-profit Consultation
• Online Charity Lawyer
• Alcohol Licence
• Legal Advice Package
• Operating a Competition Advice
• Regulatory Compliance Lawyer
• API Agreement
• End User Licence Agreement
• SaaS T&Cs
• Saas Terms and Conditions with EULA
• Software Development Agreement
• Technology Lawyers
• Terms of Use
• FAST Agreement
• Startup Lawyers
• Accountants
• Accountants – All Articles
• Accountants – All Services
• Agribusiness
• Beauty Industry
• Childcare – All Articles
• Childcare – All Services
• Clothing Business
• Construction
• Consulting and Professional Services
• Creative – All Articles
• Creative Industries
• Creative Industries – All Services
• Education and Training
• Education and Training – All Articles
• Education and Training – All Services
• Event Planning & Management
• Fitness and Wellness Industry
• Fitness and Wellness Industry – All Articles
• Fitness and Wellness Industry – All Services
• Furniture & Homeware
• Hairdressing Business
• Healthcare and Medical Practices
• Healthcare and Medical Practices – All Articles
• Healthcare and Medical Practices – All Services
• Hospitality and Tourism
• Hospitality and Tourism – All Articles
• Hospitality and Tourism – All Services
• Instagram Business
• Legal Services
• Logistics and Transportation
• Logistics and Transportation – All Articles
• Logistics and Transportation – All Services
• Marketing Business
• Party Business
• Restaurant and Cafés
• Restaurant and Cafés – All Articles
• Restaurant and Cafés – All Services
• SaaS Business
• Sports & Recreation
• Technology and Software Development
• Technology and Software Development – All Articles
• Technology and Software Development – All Services
• Travel Agencies and Tour Operators
• Travel Agencies and Tour Operators – All Articles
• Travel Agencies and Tour Operators – All Services
• Getting Started With Your Legals
• Business Ideas and Plans
• Business Structure
• Business Partners
• Industry Regulations
• Building a Team: Employees and Contractors
• Online Business and Privacy
• Business Sales
• Commercial Leases
• Creative & Entertainment
• Data & Privacy
• Digital Marketing & Advertising
• Franchising
• Not-for-profits & Charities
• Regulatory Compliance
• Software & IT
• Uncategorized

• Practical Law

Do I use a TR1 or a deed of assignment?

Practical law resource id 3-513-9364  (approx. 2 pages), get full access to this document with a free trial.

Try free and see for yourself how Practical Law resources can improve productivity, efficiency and response times.

About Practical Law

This document is from Thomson Reuters Practical Law, the legal know-how that goes beyond primary law and traditional legal research to give lawyers a better starting point. We provide standard documents, checklists, legal updates, how-to guides, and more.

650+ full-time experienced lawyer editors globally create and maintain timely, reliable and accurate resources across all major practice areas.

83% of customers are highly satisfied with Practical Law and would recommend to a colleague.

81% of customers agree that Practical Law saves them time.

• Land Registration

Category : Kratovo, Russia

image   flag image   coat of arms image
Instance of
Location
Inception
Population
Authority file   Subcategories This category has the following 6 subcategories, out of 6 total. Kratovo train stop ‎ (30 F) Kratovo, Russia, 42 km north ‎ (18 F) Kratovo, Russia, 42 km south ‎ (9 F) Kratovo, Russia, north ‎ (38 F) Kratovo, Russia, south ‎ (12 F) Malaya Moskovskaya railway ‎ (4 C, 183 F) Media in category "Kratovo, Russia" The following 120 files are in this category, out of 120 total. Settlements in Ramensky District Uses of Wikidata Infobox Uses of Wikidata Infobox with maps Pages with maps Navigation menu 453 IMAGES Deed of Assignment of Lease 13+ Legal Deed Templates in Word Deed of Assignment of Lease Deed of Assignment Deed Of Assignment Tenancy Template FREE 17+ Deed of Assignment Samples in PDF VIDEO Why you need a deed of assignment in Nigeria What is "Deed of Assignment" when it comes to real estate?? #realestate #lagoslands #landforsale Register your deed( conveyance, assignment, gift etc.) The Leasehold & Freehold Reform Act UNCOMMON TRUTH ABOUT BUYING PROPERTIES IN NIG WHAT IS A DEED VS PURCHASE AGREEMENT COMMENTS Assignment of Lease: Definition & How They Work (2023) The assignment of lease is a title document that transfers all rights possessed by a lessee or tenant to a property to another party. The assignee takes the assignor's place in the landlord-tenant relationship. You can view an example of a lease assignment here . Deed of assignment of lease A deed for the assignment of an unregistered lease. For a suite of practice notes on lease assignments dealing with the transaction from the perspective of the assignee, see Lease assignment toolkit. See Standard clauses and drafting notes for clauses that can be used to adapt this document. Deed of Assignment of Leasehold Rights (Option A) This 3-page document is a Deed of Assignment of Leasehold Rights between an assignor and assignee. It details the transfer of leasehold rights from the assignor to the assignee. Both parties and witnesses sign the document, which is notarized. The deed includes provisions about the assignment and is intended to legally transfer the leasehold rights from one party to another. Assigning A Lease Once this is all taken care of, the landlord basically confirms their consent to the transfer, and the tenant also lets them know that they agree to it. This should be covered in what we call a Deed of Consent to Assignment . The assignee will also agree to inherit the rights under the existing lease from a certain date until the lease term ends. Deed Of Assignment A leasehold interest can be transferred through a deed of assignment from one tenant to another or from a tenant to a landlord. Once the deed is executed and the leasehold interest is transferred to the new tenant, the new tenant will be responsible for fulfilling the terms of the lease, including paying rent and complying with any other ... The Definition of a Leasehold Deed of Trust A leasehold deed of trust combines a leasehold and a deed of trust. This document is used by companies that lease a property for a long-term period; the time period can vary, but it is typically for 20 years or more. The company leasing the land builds a structure on the property, but the owner of the land may obtain the loan for the building. Deed of Assignment of Lease Deed to transfer right to the tenant An assignment of a lease is a complete transfer of the right to be the tenant under the lease. The third-party assignee becomes the "tenant" under the lease, taking over all of the leased premises, substituting for the old tenant. When the lease is assigned, the assigner move out permanently and a new tenant moves in for the remainder of the ... Assignment of Lease by Lessee The law says: "The lessee cannot assign the lease without the consent of the lessor, unless there is a stipulation to the contrary.". The assignment of a lease by the lessee involves a transfer of rights and obligations pertaining to the contract; hence, the consent of the lessor is necessary. In the case of Josie Go Tamio v. Deed of Assignment: Everything You Need to Know The Deed of Assignment is required to effect a transfer of property and to show the legal right to possess it. It is always a subject of debate whether Deed of Assignment is a contract; a Deed of Assignment is actually a contract where the owner (the "assignor") transfers ownership over certain property to another person (the "assignee ... Assignment of Lease Explained A "deed of assignment tenancy" is a legal document that evidences the transfer of lease obligations from the current tenant to another. It is an essential part of the lease assignment process, binding the new tenant to the terms stated in the original lease. Landlord's Checks Before Permitting Assignment of a Lease What Is an Assignment of Leases and How Can a Real Estate Lawyer Help? An assignment of leases is useful when someone would like the rental space or land that another is leasing and the current leaseholder cannot continue to support himself or herself on the property. The legal transfer of the lease permits the individual to give the rights of the agreement to the other person. Shared ownership leases: a quick-fire guide to assignments In this quick-fire guide, we outline the steps social landlords should take when assigning a shared ownership lease to ensure the process runs smoothly: Use a license. Unless the leaseholder has staircased to 100%, the landlord's consent will be required to assign the lease. To provide evidence of this consent, enter into a licence to assign ... Lease and assignment of lease An Assignment of Lease was created when a lessee wished to leave leasehold property before the end of the term. With the consent of the lessor, he assigned the residue of the lease (the remaining period of time) to another person. The new lessee took on the lease according to all the original conditions. The assignment therefore looks back to ... Demystifying Assignment of Lease: Your Go-To Guide Step 1: Identify the Parties. The information of each party should be included. For the existing tenant (the assignor), make sure to include: Do the same for the new tenant (the assignee). Make sure all the information is up-to-date and accurate to avoid any unnecessary confusion or disputes. Deed of assignment of lease and landlord's consent A deed of assignment of lease used for the assignment of a tenant's leasehold estate under a commercial or retail lease to a third party with the consent of the landlord. This deed can be used for a transaction that solely involves the transfer of the tenant's leasehold estate, or for a transfer of the relevant leasehold estate in the context of an asset purchase agreement. Protecting an Interest in a Ground Lease In addition to the protections in a lender's leasehold deed of trust, a lender will often need to request that a ground lease be amended or that a separate agreement regarding ground lease be executed to address any lender protections that may have been omitted from the initial ground lease. ... Finally, following an assignment of the ground ... Assigning A Lease This is formalised in a Deed of Consent to Assignment. The assignee will then agree to take on the rights under the existing lease from a specified date until the lease term concludes. All parties should review the terms of the Agreement to ensure they are satisfied with their obligations and the rights or interests they will hold in the lease. Deed/Assignment of Leasehold Interest Sample Clauses Deed/Assignment of Leasehold Interest. If a Contributed Asset is a Property, either, as applicable, (i) a deed (a "Deed") containing a special warranty of title, in statutory form or if the applicable jurisdiction does not promulgate such a form, in such form as the title company selected by LMLP shall require in order to issue a Title Policy with respect thereto, executed and acknowledged ... Do I use a TR1 or a deed of assignment? Q: We have a lease of a unit of which the Land Registry tells us that the freehold and leasehold interest are not registered. However in the deeds packet there is a TR1 form, albeit without a title number. Can this form be used even if the title is unregistered. Or must the title be registered to use this form. Zhukovsky Map Town. Ilyinsky is an urban-type settlement in Ramensky District, Moscow Oblast, Russia, located 17 kilometres southeast from Moscow in a forested area near the town of Zhukovsky on both sides of the Ilyinskaya railway station. Ilyinsky is situated 4½ km north of Zhukovsky. File:Flag of Kratovo (Moscow oblast).png Flag_of_Kratovo_ (Moscow_oblast).png ‎ (795 × 530 pixels, file size: 24 KB, MIME type: image/png) This is a file from the Wikimedia Commons. Information from its is shown below. Commons is a freely licensed media file repository. You can help. Союз геральдистов России. This work is not an object of copyright according ... Kratovo, Russia Kratovo (Russian: Кра́тово) is an urban locality (a suburban (dacha) settlement) in Ramensky District of Moscow Oblast, Russia, located 40 kilometers (25 mi) southeast of Moscow.Population: 8,277 (2010 Russian census); 6,855 (2002 Census); 6,295 (1989 Soviet census) . Zoe Williams of The Guardian wrote that Kratovo "resembles a Russian Guildford with high hedges, gigantic trees, the ... Category:Kratovo, Russia This page was last edited on 25 September 2022, at 20:58. Files are available under licenses specified on their description page. All structured data from the file namespace is available under the Creative Commons CC0 License; all unstructured text is available under the Creative Commons Attribution-ShareAlike License; additional terms may apply.By using this site, you agree to the Terms of ... essay homework paper phd project resume review speech study thesis