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Commercial Lease Assignment from Tenant to New Tenant - South Carolina 2026

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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, who assumes these responsibilities, including rent payments. The document also addresses the potential joint and several liability of the Assignor in relation to the lease.

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How to use or fill out Commercial Lease Assignment from Tenant to New Tenant - South Carolina

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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 is important for establishing the timeline of obligations.
Next, specify the address of the leased premises. This should match what is stated in your original lease to avoid any confusion.
For 'Assignment of Interest', indicate the start date when Assignee will assume rights and obligations. This marks a critical transition point.
In 'Joint and Several Liability of Assignor', select whether Assignor will remain liable under the lease terms by checking either 'SHALL' or 'SHALL NOT'.
Finally, ensure all parties sign and date at the bottom of the form to validate this assignment legally.

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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.

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 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.

What is the difference between assignment and transfer of lease?

Lease Assignment Fees means any fee or any other amounts that become payable to the landlord or any other Person in connection with the assignment to Buyer or replacement of any real property lease of the Company, including any fees or amounts payable in order to secure the consent of the applicable landlord to such

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.

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.