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Assignment of Lease Package - Arkansas

Assignment of Lease Package - Arkansas 2025

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The document is an Assignment of Lease Package from U.S. Legal Forms, Inc., designed to assist parties in assigning their leasehold interests in rental properties. It includes essential forms such as the 'Assignment of Lease from Lessor with Notice of Assignment' and 'Landlord Consent to Assignment of Lease,' along with tips for completing the forms and a disclaimer regarding their legal use.

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Click ‘Get Form’ to open the Assignment of Lease Package in our editor.
Begin with the 'Assignment of Lease from Lessor with Notice of Assignment'. Fill in the lessor's name and address, ensuring accuracy for future correspondence.
Next, enter the details of the new lessor. This includes their name and contact information, which is crucial for maintaining communication regarding the lease.
In the notice section, provide the tenant's name and inform them about the assignment. Include a new address for rental payments to ensure they are directed correctly.
Proceed to complete the 'Landlord Consent to Assignment of Lease'. Here, you will need to include your consent as a landlord for the tenant’s assignment.
Review all entered information for accuracy before saving or printing your completed forms. Utilize our platform’s features to easily make any necessary adjustments.

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

What is the process of assigning a lease?

Assigning a lease simply means transferring your lease to another person so that they become the new tenant. Once the assignment has taken place the lease continues to exist and the new tenant becomes liable for all of the tenants obligations in the lease.

Who pays lease assignment fees?

In lease assignments, the assignee pays the landlords legal and administrative fees, while the assignor covers the cost of drafting the deed of assignment. Below, we break down how fees are typically divided and what factors influence who pays.

What happens if you assign a lease?

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.

What is an assignment in a lease?

A lease assignment occurs when a tenant fully transfers their lease to another party. The landlord must agree to the lease transfer, and usually records their consent to it via a document called a license to assign.

How much is a lease assignment fee?

These fees can range from $1,500 to $5,000, depending on the complexities of the process. The fee is typically non-refundable and is due regardless of whether the landlord approves or disapproves of the transfer.

Does an assignment of lease need to be recorded?

Generally, tenant rights may permit recording the assignment to protect their interest in the property; however, many leases require landlord consent. The recording process itself is a formal procedure that documents the assignment publicly but does not override contractual obligations.

Assignment of Lease Package - Arkansas 2025

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