Assignment of lease by tenant, with assumption, plain English: 11-98
ASSIGNMENT AND ASSUMPTION OF LEASE
The parties agree as follows:
If there are more than one Assignor or Assignee, the words “Assignor” and “Assignee” shall include them.
The Lease which is assigned herein is indentified as follows:
(This Lease was recorded on
of the County of
Assignor has received
in the office of the
of conveyances, at page .)
($ ) dollars
and other good and valuable consideration for this Assignment.
Assignor assigns to the Assignee all the Assignor’s right, title and interest in a) the Lease and b) the security deposit,
if any, stated in the Lease.
Assignee agrees to pay the rent promptly and perform all of the terms of the Lease as of the date of this Assignment.
Assignee assumes full responsibility for the Lease as if Assignee signed the Lease originally as Tenant.
Assignee agrees to indemnify and hold Assignor harmless from any legal actions, damages and expenses, including legal
fees that the Assignor may incur arising out of the Lease.
Assignee agrees that the obligations assumed shall benefit the landlord named in the Lease as well as the Assignor.
Assignor states that Assignor has the right to assign this Lease and that the premises are free and clear of any judgments,
executions, liens, taxes and assessments.
Assignee states that Assignee has read the Lease and has received the original or an exact copy of the Lease.
This assignment is binding on all parties who lawfully succeed to the rights or take the place of the Assignor or Assignee.
The margin headings are for convenience only.
The Assignor and Assignee have signed this Assignment as of