Lease Transfer Agreements


ASSIGNMENT OF LEASE AGREEMENT



How to 'assign' or transfer a lease to someone else.

If you are leasing a property such as a house, home unit or commercial premises, you may come to the point where you no longer wish to use the property. Unfortunately you are still obligated to honour your commitment by the terms of the lease to continue paying the rent and maintain the property. If you find yourself in this situation, you may want to consider assigning the lease to someone else. A transfer of lease, although similar to a subletting the property, is a simple contract you can enter with someone else so they accept responsibility for your lease obligations. However before you do, there are a few things you should know;

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