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Assignment of commercial lease

Commercial Lease Assignment from Tenant to New Tenant - Indiana 2026

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This 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, who will assume these responsibilities, including rent payments. The document also addresses the potential joint liability of the Assignor in relation to the lease.

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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 details are crucial for legal recognition.
In the section labeled 'OPERATIVE LEASE AGREEMENT', enter the date when the original Lease Agreement was executed. This establishes a timeline for the assignment.
Next, complete the 'ASSIGNMENT OF INTEREST' section by specifying the date when Assignee will assume rights and obligations. This is vital for clarity on responsibilities.
In 'JOINT AND SEVERAL LIABILITY OF ASSIGNOR', select whether Assignor shall or shall not be jointly liable. This decision impacts legal accountability and should be made carefully.
Finally, ensure all parties sign and date the document at the bottom to validate the assignment 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 transfer a commercial lease to someone else?

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.

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.

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.

What is a transfer of an entire lease from one person to another called?

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.

Can you transfer a commercial lease?

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.

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What is the difference between lease assignment and transfer?

As a general principle, both assignments and subleases are allowed, and so any tenant can assign his or her lease to a third party or sublease his or her interest in the property to a third party at any time. However, as a practical matter, many lease agreements specifically prohibit assignments or subleases.