Commercial Lease Assignment from Tenant to New Tenant - Arkansas 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 assumes 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 parties are crucial for the assignment.
In the section labeled 'Operative Lease Agreement', enter the date when the original Lease Agreement was executed. Attach any relevant documents if necessary.
For 'Assignment of Interest', specify the date when Assignee will assume rights and obligations. This is critical for establishing when responsibilities transfer.
In 'Joint and Several Liability of Assignor', select whether Assignor will be jointly liable. This choice impacts legal responsibilities, so choose carefully.
Finally, ensure all parties sign and date at the bottom of the form to validate the assignment.

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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 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 the difference between assignment and transfer of 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 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 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.

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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 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.

Commercial Lease Assignment from Tenant to New Tenant - Arkansas 2026

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