Commercial Lease Assignment from Tenant to New Tenant - Hawaii 2025

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The document is a Commercial Lease Assignment agreement between a Landlord, a former Tenant (Assignor), and a new Tenant (Assignee). It outlines the assignment of the Assignor's rights and obligations under an existing lease to the Assignee, including the assumption of rent payments. The agreement also addresses the potential joint liability of the Assignor for any damages or unpaid rent incurred by the Assignee.

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Click ‘Get Form’ to open it in the editor.
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 parties are crucial for the assignment.
In the section labeled 'Operative Lease Agreement', enter the date when the original Lease Agreement was executed. This establishes a reference point for all parties involved.
Next, specify the address of the leased premises. This is essential for identifying the property being assigned.
For 'Assignment of Interest', indicate the start date when Assignee will assume rights and obligations under the Lease Agreement. This clarifies when responsibilities transfer.
In 'Joint and Several Liability of Assignor', select whether Assignor will be jointly liable by checking either box. This decision impacts legal responsibilities moving forward.
Finally, ensure all parties sign and date at the bottom of the form to validate this agreement legally.

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Can you change the name on a commercial lease?

Tenants of commercial premises who want to transfer or assign their lease, will have to obtain their landlords consent in the first instance. An assignment of a lease can only work if your landlord agrees with your intention to transfer the lease to someone else.

How long does a commercial lease assignment take?

The time required to assign a commercial lease can vary from a few weeks to several months, depending on several factors, including: How complex the lease terms are. How quickly the landlord consents to the assignment. The responsiveness of third-party solicitors in finalising the paperwork.

What is the difference between assigning and transferring a lease?

In summary, while assignment usually means a full and direct handover of lease rights and obligations, transfer is a broader term that might involve different arrangements or partial rights. Both require landlord consent and proper legal documentation.

How do I amend a commercial lease?

If you agree with your landlord to vary your lease, this will usually be documented as a deed of variation. A deed evidences the changes made to the lease and avoids the potential for disputes in the future if one party were to allege that the changes were not agreed and is enforceable between the parties.

Is a transfer of a tenants complete interest in a lease called an assignment?

A lease assignment occurs when a tenant transfers their entire interest in the lease to a third party, known as an assignee. The assignee assumes all the tenants rights and obligations under the lease, including paying rent and fulfilling lease terms.

How do you assign a lease to someone else?

Once a lease has been assigned, the assignee will become the new tenant and will be responsible for payment of the lease rent(s) and ensuring compliance with all of the tenants obligations in the lease, including covenants in relation to repair and maintenance of the property.

How to reassign a commercial lease?

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.

Can you transfer a lease to another person?

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.

Commercial Lease Assignment from Tenant to New Tenant - Hawaii 2025

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