Assignment of Lease from Lessor with Notice of Assignment - New Mexico 2025

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The document is an Assignment of Lease Agreement where the Assignor transfers all rights, title, and interest in a lease agreement to the Assignee. It outlines the details of the lease, including rental payments and terms, while retaining ownership rights with the Assignor. Additionally, it includes a notice to the Lessee/Tenant regarding the assignment and new payment address.
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An assignment and assumption of lease is a legal real estate document that allows one party to transfer rights and obligations of a lease to another party. Often used in real estate transactions and mortgage lending, the assignment and assumption of lease agreement requires the landlord to consent to move forward.
In California, within the Business and Professions Code, Section 1995.260, the landlord cannot unreasonably withhold the consent of the tenant to assign or sublease the property.
An assignment of lease from the seller to the buyer allows the new landlord to collect rent from any and all current tenants in the building. The language in the landlords assignment of lease agreement can include assignment of security deposits, if the parties agree to it.
The assignor is typically the current tenant, while the assignee becomes the new tenant. On the other hand, a lease transfer refers to transferring the leasehold interest from the current tenant (transferor) to a new tenant (transferee). In a lease transfer, the existing tenant is completely replaced by the new tenant.
As a general rule, retail leases prohibit tenants from assigning the lease to an assignee or subleasing the premises to a subtenant (each referred to herein as a Transfer) unless the landlord consents in writing to such Transfer.

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Other states, like California and Texas, require all adult tenants to sign the lease. Those who do not are considered a guest of the lease signing tenant. Even if a state does not require all tenants to sign the lease, it is good practice for a landlord to require all adult tenants to sign the lease.
A form of landlords consent favoring the tenant. This form of consent is used when a tenant requests the landlords consent for an assignment of its lease and the landlord agrees to grant its consent.

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Responsibility. Assignor shall be responsible for all duties and obligations of the landlord under the Leases arising before the date of this Assignment.

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