Commercial Lease Assignment from Tenant to New Tenant - New York 2026

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  1. Click ‘Get Form’ to open it in the editor.
  2. Begin by filling in the names of the Landlord, Assignor (former Tenant), and Assignee (new Tenant) at the top of the form. Ensure accuracy as these details are crucial for legal recognition.
  3. In the section titled 'Operative Lease Agreement', enter the date when the original Lease Agreement was executed. Attach any relevant documents if necessary.
  4. For 'Assignment of Interest', specify the date when Assignee will assume rights and obligations. This is important for clarity on responsibilities regarding rent payments.
  5. In 'Joint and Several Liability of Assignor', select whether the Assignor will be jointly liable. This decision impacts legal accountability, so choose carefully.
  6. Finally, ensure all parties sign and date the document at the bottom to validate this assignment legally.

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Most commercial leases require landlord consent for any assignment. To ask for this, you need to send a Request for Consent letter to the landlord. This letter should include details about the new tenant (assignee), like: The nature of their business.
In general, the landlord must agree to the lease transfer, and usually records their consent to it via a document called a license to assign.
Assignment of a lease If a tenant assigns (transfers) the lease to another person, Stamp Duty must be paid on the assignment. You treat an assignment the same way as a purchase of property. Mary leases the premises in which she conducts her accountancy business from John.
An assignment is a full transfer of the lease between the tenant and the assignee. Therefore, since the tenant no longer has any ownership interest in the property, there is no longer any relationship between the landlord and the tenant as far as the property ownership is concerned.
The Principle of Assignment in Commercial Leases This process is called an assignment of the lease. Essentially, the tenants obligations and rights under the lease agreement transfer to the new owner, who assumes the position of the previous landlord.

People also ask

A commercial lease amendment can be used to make nearly any kinds of changes that the landlord and tenant agree on. Essentially, as long as what you are agreeing to is legal, your lease amendment can include it.
A tenants existing lease automatically transfers to a new owner because a sale doesnt terminate a lease. As a landlord, you must meet certain notice requirements before you can begin showing the property.

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