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Property & rentals 3 signers 3 pages 22 blanks to fill in

Lease Assignment Agreement Template

Hand your lease over to a new tenant for the rest of its term — with the landlord's consent, the deposit sorted, the handover agreed and your liability settled.

Use This Template — Free See the Agreement Signers don’t need an account
Lease assignment agreement
The blanks in brackets are what you fill in. VergeHR adds each signer’s signature and date boxes.
Lease assignment agreement — page 1 of 3
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Lease assignment agreement — page 2 of 3
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Lease assignment agreement — page 3 of 3
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Use This Template Fill in the blanks, name who signs, and send — from VergeHR eSignature.

What is a lease assignment agreement?

A lease assignment transfers a tenant's whole lease to someone new, who steps into the tenant's shoes for the rest of the term at the same rent and on the same terms. It is common when a business sells up and the buyer takes over the premises, or when a tenant has to move and finds a replacement the landlord is happy with. Because the landlord is a party to the lease, its consent is almost always needed, and the key question for the outgoing tenant is whether it stays liable if the new tenant stops paying.

This template is signed by the outgoing tenant, the incoming tenant and the landlord. It identifies the lease, the current rent and the assignment date, and splits rent and bills day by day around that date. You choose whether the deposit stays with the landlord (with the incoming tenant repaying the outgoing one) or is returned and replaced, and can add a price for fixtures, fit-out or goodwill. It covers the handover and joint inspection, the outgoing tenant's confirmations about the lease with any known issues, a choice between a full release by the landlord or the outgoing tenant guaranteeing the rest of the current term, an indemnity from the incoming tenant, and the landlord's consent.

Best for
Business sales that include premises, and tenants handing over to a replacement
Signed by
Outgoing tenant, incoming tenant and landlord
Outgoing tenant
Released by the landlord, or guarantees the rest of the current term — you choose
Length
About 3 pages, initialled by both tenants

When to Use a lease assignment agreement

  • Selling a café, shop or salon and passing the lease to the buyer
  • A company moving offices and handing its lease to a new occupier
  • A residential tenant moving away and replacing themselves, where the lease allows it
  • Transferring a lease between related companies after a restructure
  • A franchisee handing over a location to a new franchisee

What You Fill In

22 blanks, then the name and email of each person who signs: outgoing tenant, incoming tenant, landlord.

1 The parties

  • Date of the agreement*
  • Outgoing tenant*
  • Outgoing tenant's new address for notices
  • Incoming tenant*
  • Incoming tenant's address
  • Landlord*

2 The lease

  • Address of the property*
  • Date of the lease*
  • Original parties to the lease
  • Lease ends*
  • Currency*
  • Current rent*
  • Rent period* per month · per quarter · per year

3 The transfer

  • Assignment date*
  • Rent paid up to

4 Deposit and payments

  • Deposit held by the Landlord
  • What happens to the deposit* It stays with the Landlord for the Incoming Tenant, who repays the Outgoing Tenant · The Landlord returns it to the Outgoing Tenant and the Incoming Tenant pays a new deposit
  • Price paid by the Incoming tenant
  • The price covers

5 Liability

  • Outgoing tenant's liability after the assignment* The Landlord releases the Outgoing Tenant from obligations arising after the Assignment Date · The Outgoing Tenant guarantees the Incoming Tenant's obligations for the rest of the current lease term
  • Known breaches or disputes
  • Governing law*

6 Who signs

  • Outgoing tenant signature and date, job title, initials on every page · The current tenant transferring the lease (the assignor).
  • Incoming tenant signature and date, job title, initials on every page · The new tenant taking over the lease (the assignee).
  • Landlord signature and date, job title, initials on every page · The landlord under the lease, who signs to consent.

What the lease assignment agreement Covers

  1. The Lease
  2. Assignment
  3. Before and after the Assignment Date
  4. Deposit
  5. Handover
  6. Promises by the Outgoing Tenant
  7. Liability after the Assignment Date
  8. Landlord's consent
  9. General

Using the lease assignment agreement, step by step

1 Identify the parties and the lease

Enter the outgoing tenant, incoming tenant and landlord. Add the property, the date and end of the lease, and the current rent. If the lease was originally signed by different parties, say who.

2 Set the assignment date and money

Choose the date the incoming tenant takes over and, optionally, the date rent is paid up to. Enter the deposit and what happens to it, and any price the incoming tenant pays for fixtures, fit-out or goodwill.

3 Settle liability

Choose whether the landlord releases the outgoing tenant from obligations after the assignment date, or the outgoing tenant guarantees the incoming tenant for the rest of the current term. List any known breaches or disputes so everyone signs with the same information.

4 Send to all three signers

Add the governing law and the new address for notices, then send. VergeHR collects the signatures of both tenants and the landlord, with initials from both tenants on every page.

Tips Before You Send It

  • Read the lease's assignment clause first: it may set conditions for the landlord's consent, such as references or a guarantee.
  • Give the incoming tenant the full lease and all amendments before they sign.
  • Do the joint inspection before the assignment date, with photos, so the deposit isn't argued about later.
  • In some places an assignment of a longer lease must be signed in a particular form, witnessed or registered — check before relying on e-signature alone.

Sign It Online In Minutes

  1. Fill in the blanks. Names, dates and amounts go straight into the agreement — the preview shows exactly where.
  2. Name who signs. Tick “This is me” for your own part. VergeHR builds the PDF with every signature, date and initials box on the right line, and you can check or move anything before sending.
  3. Send it. Each signer gets a secure link and signs from any device — no account needed. The signed PDF, with an audit trail and a Certificate of Completion, is filed in Files and emailed to everyone.
Use the lease assignment agreement Template — It’s Free

Lease assignment agreement: frequently asked questions

Does the outgoing tenant stay liable after assigning?

You choose. The landlord can release the outgoing tenant from obligations arising after the assignment date, or the outgoing tenant can guarantee the incoming tenant for the rest of the current term — not any renewal or later increase it hasn't agreed to. In some places the law decides this regardless.

What is the difference between an assignment and a sublease?

An assignment transfers the whole lease and the outgoing tenant steps out. A sublease keeps the original tenant in place and lets someone occupy under them for part of the term.

What happens to the deposit?

Either it stays with the landlord for the incoming tenant, who repays the outgoing tenant, or the landlord returns it to the outgoing tenant and the incoming tenant pays a new one. Claims for the period before the assignment date are settled at handover, based on a joint inspection.

Can a lease assignment be signed electronically?

Electronic signatures are generally valid for ordinary contracts in the US (ESIGN Act and UETA), the UK, the EU (eIDAS) and Canada. Some lease transfers, often of longer leases, must be made as a deed, witnessed or registered, so check the local rules. VergeHR keeps an audit trail and a Certificate of Completion with the signed PDF.

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