It may happen that a tenant may have to move to another city because of his job or other reason, in such cases he will have to assign the residential lease to another person. The assignment of residential lease form enables the tenant to transfer the rights and responsibilities of the lease agreement to a new tenant. All the responsibilities like rent, property maintenance etc has to be taken by the new tenant. This assignment has to be made with the consent of the landlord. Before signing the assignment of residential lease form, a tenancy application form must be completed by the new tenant and approval must be given by the landlord.
The assignment or residential lease form includes the terms of assignment, signatures of the landlord, current tenant and the new tenant, length of the assignment etc. However, the original tenant cannot assign more rights than it has under the original lease. For example, if the term of the lease is one year, the term of assignment cannot be two years. A sample Assignment of residential lease template is given below.
Assignment of Residential Lease Form
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