Assignment of Lease - Multiple Tenants
Form: Assignment of Lease - Multiple Tenants
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Consent to Assignment of Lease
[Scenario: more than one tenant is on original lease, one of those tenants is moving out, one or more tenants are staying, a new tenant is moving in]
Tenant: __________________________ [current tenant that is moving out]
Assignee: ________________________ [new tenant that is moving in]
Landlord, Tenant, and Assignee agree as follows:
1. Location of Premises
Tenant has leased the premises located at _______________________________ from Landlord, pursuant to a Lease Agreement dated ___________, between [name(s) of current tenant(s) who will remain in apartment] and Tenant (collectively as co-tenants) and Landlord (the “Lease”).
2. Lease Beginning and Ending Dates
The lease was signed on __________________, and the initial 12-month term of the Lease expires on __________________.
Tenant hereby assigns all of his/her interest in the Lease to Assignee, beginning on ___________.
4. Tenant's Future Liability
Tenant's financial responsibilities under the terms of the lease are ended by this Assignment. Specifically, Tenant's responsibilities for future rent and future damage are ended.
5. Tenant's Right to Occupy Terminated
As of the date of this Assignment, Tenant permanently gives up the right to occupy the premises.
6. Binding Nature of Agreement
Assignee is bound by every term and condition in the Lease, including but not limited to the payment of rent. [Name of current tenant(s) staying in apartment] continue(s) to be bound by every term and condition in the Lease, including but not limited to the payment of rent.
7. Assignment of Security Deposit
Tenant assigns all of his/her interest in the security deposit to Assignee, and will have no right to request any portion of the security deposit from Landlord. Assignee has reimbursed Tenant for his/her share of the security deposit.
Landlord's signature Date
Tenant's signature Date
Assignee's signature Date