Commercial Lease Assignment from Tenant to New Tenant - Minnesota 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 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 or not by checking the appropriate box. This decision impacts legal responsibilities.
Finally, ensure all parties sign and date at the bottom of the form to validate this 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 switch tenants on a lease?

Answer. Under a typical lease assignment, you transfer all of your space to someone else for the entire remaining term of the lease, and the new tenant pays rent directly to the landlord. If the new tenant fails to pay rent or damages the rental, your landlord could look to you for compensation.

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.

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.

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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.

How do I add a new tenant to an existing lease?

We outlined the top steps to adding a new tenant to an existing lease to help guide you along the process. Request a Rental Application. Create a Lease Amendment. Collect Signatures From All Parties. Set Up Rent Collection From the New Tenant.

Commercial Lease Assignment from Tenant to New Tenant - Minnesota 2026

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