deed of rental assignment

Deed of Assignment: Everything You Need to Know

A deed of assignment refers to a legal document that records the transfer of ownership of a real estate property from one party to another. 3 min read updated on January 01, 2024

Updated October 8,2020:

A deed of assignment refers to a legal document that records the transfer of ownership of a real estate property from one party to another. It states that a specific piece of property will belong to the assignee and no longer belong to the assignor starting from a specified date. In order to be valid, a deed of assignment must contain certain types of information and meet a number of requirements.

What Is an Assignment?

An assignment is similar to an outright transfer, but it is slightly different. It takes place when one of two parties who have entered into a contract decides to transfer all of his or her rights and obligations to a third party and completely remove himself or herself from the contract.

Also called the assignee, the third party effectively replaces the former contracting party and consequently assumes all of his or her rights and obligations. Unless it is stated in the original contract, both parties to the initial contract are typically required to express approval of an assignment before it can occur. When you sell a piece of property, you are making an assignment of it to the buyer through the paperwork you sign at closing.

What Is a Deed of Assignment?

A deed of assignment refers to a legal document that facilitates the legal transfer of ownership of real estate property. It is an important document that must be securely stored at all times, especially in the case of real estate.

In general, this document can be described as a document that is drafted and signed to promise or guarantee the transfer of ownership of a real estate property on a specified date. In other words, it serves as the evidence of the transfer of ownership of the property, with the stipulation that there is a certain timeframe in which actual ownership will begin.

The deed of assignment is the main document between the seller and buyer that proves ownership in favor of the seller. The party who is transferring his or her rights to the property is known as the “assignor,” while the party who is receiving the rights is called the “assignee.”

A deed of assignment is required in many different situations, the most common of which is the transfer of ownership of a property. For example, a developer of a new house has to sign a deed of assignment with a buyer, stating that the house will belong to him or her on a certain date. Nevertheless, the buyer may want to sell the house to someone else in the future, which will also require the signing of a deed of assignment.

This document is necessary because it serves as a temporary title deed in the event that the actual title deed for the house has not been issued. For every piece of property that will be sold before the issuance of a title deed, a deed of assignment will be required.

Requirements for a Deed of Assignment

In order to be legally enforceable, an absolute sale deed must provide a clear description of the property being transferred, such as its address or other information that distinguishes it from other properties. In addition, it must clearly identify the buyer and seller and state the date when the transfer will become legally effective, the purchase price, and other relevant information.

In today's real estate transactions, contracting parties usually use an ancillary real estate sale contract in an attempt to cram all the required information into a deed. Nonetheless, the information found in the contract must be referenced by the deed.

Information to Include in a Deed of Assignment

• Names of parties to the agreement
• Addresses of the parties and how they are binding on the parties' successors, friends, and other people who represent them in any capacity
• History of the property being transferred, from the time it was first acquired to the time it is about to be sold
• Agreed price of the property
• Size and description of the property
• Promises or covenants the parties will undertake to execute the deed
• Signatures of the parties
• Section for the Governors Consent or Commissioner of Oaths to sign and verify the agreement

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Content Approved by UpCounsel

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Assignment of Rents – What, Why, and How?

Article by:

Madelaine prescott, esq., share this post:.

• November 29, 2023

These days, almost all commercial loans include an Assignment of Rents as part of the Deed of Trust or Mortgage. But what is an Assignment of Rents, why is this such an important tool, and how are they enforced?

An Assignment of Rents (“AOR”) is used to grant the lender on a transaction a security interest in existing and future leases, rents, issues, or profits generated by the secured property, including cash proceeds, in the event a borrower defaults on their loan. The lender can use the AOR to step in and directly collect rental payments made by the tenant. For an AOR to be effective, the lender’s interest must be perfected, which has a few fairly simple requirements. The AOR must be in writing, executed by the borrower, and recorded with the county where the property is located. Including an AOR in the recorded Deed of Trust or Mortgage is the easiest and most common way to ensure the AOR meets these requirements should it ever need to be utilized.

When a borrower defaults, lenders can take advantage of AORs as an alternative to foreclosure to recoup their investment. With a shorter timeline and significantly lower costs, it is certainly an attractive option for lenders looking to get defaulted borrowers back on track with payments, without the potential of having to take back a property and attempting to either manage it or sell it in hopes of getting your money back out of the property. AORs can be a quick and easy way for the lender to get profits generated by the property with the goal of bringing the borrower out of default. But lenders should carefully monitor how much is owed versus how much has been collected. If the AOR generates enough funds so that the borrower is no longer in default, the lender must stop collecting rents generated by the property.

Enforcement of an AOR can also incentivize borrowers to work with the lender to formulate a plan, as many borrowers rely on rental income to cover expenses related to the property or their businesses. Borrowers are generally more willing to come to the table and negotiate a mutual, amicable resolution with the lender in order to protect their own investment. A word of warning to lenders though: since rental income is frequently used to pay expenses on the property, such as the property manager, maintenance, taxes, and other expenses, the lender needs to ensure they do not unintentionally hurt the value of the property by letting these important expenses fall behind. This may hurt the lender’s investment as well, as the property value could suffer, liens could be placed on the property, or the property may fall into disrepair if not properly maintained. It is also important for lenders to be aware of the statutes surrounding the payment of these expenses when an AOR is being used, as some state’s statutes require the lender to pay certain property expenses out of the collected rents if requested by the borrower.

In addition to being shorter and cheaper than foreclosure, AORs can be much easier to enforce. In California, the enforcement of an AOR is governed by California Civil Code §2938. This statute specifies enforcement methods lenders can use and restrictions on use of these funds by the lender, among other things. Under CA Civil Code §2938(c), there are 4 ways to enforce an AOR:

• The appointment of a receiver;
• Obtaining possession of the rents, issues, profits;
• Delivery to tenant of a written demand for turnover of rents, issues, and profits in the correct form; or
• Delivery to assignor of a written demand for the rents, issues, or profits.

One or more of these methods can be used to enforce an AOR. First, a receiver can be appointed by the court, and granted specific powers related to the AOR such as managing the property and collecting rents. They can have additional powers though; it just depends on what the court orders. This is not the simplest or easiest option as it requires court involvement, but this is used to enforce an AOR, especially when borrowers or tenants are uncooperative. Next is obtaining possession of the rents, issues, profits, which is exactly as it seems; lenders can simply obtain actual possession of these and apply the funds to the loan under their AOR.

The third and fourth options each require delivery of a written demand to certain parties, directing them to pay rent to the lender instead of to the landlord. Once the demand is made, the tenant pays their rent directly to the lender, who then applies the funds to the defaulted loan. These are both great pre-litigation options, with advantages over the first two enforcement methods since actual possession can be difficult to obtain and courts move slowly with high costs to litigate. The written demands require a specific form to follow called the “Demand To Pay Rent to Party Other Than Landlord”, as found at CA Civil Code §2938(k). There are other notice requirements to be followed here, so it is essential to consult with an experienced attorney if you are considering either of these options. California Civil Code §2938 specifically provides that none of the four enforcement methods violate California’s One Action Rule nor the Anti-Deficiency Rule, so lenders can confidently enforce their AORs using the above methods with peace of mind that they are not violating other California laws.

Whether you are looking to originate a new loan, or you are facing a default by your borrower, understanding what an Assignment of Rents is and how it operates can be extremely beneficial. Enforcing an AOR can be an easier option than foreclosure and can help promote a good relationship with your borrower when handled correctly. If you have any questions about AORs, or need further details on how to enforce them, Geraci is here to help.

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DEED OF ASSIGNMENT: EVERYTHING YOU NEED TO KNOW.

A Deed of Assignment refers to a legal document in which an assignor states his willingness to assign the ownership of his property to the assignee. The Deed of Assignment is required to effect a transfer of property and to show the legal right to possess it. It is always a subject of debate whether Deed of Assignment is a contract; a Deed of Assignment is actually a contract where the owner (the “assignor”) transfers ownership over certain property to another person (the “assignee”) by way of assignment. As a result of the assignment, the assignee steps into the shoes of the assignor and assumes all the rights and obligations pertaining to the property.

In Nigeria, a Deed of Assignment is one of the legal documents that transfer authentic legal ownership in a property. There are several other documents like a deed of gifts, Assent, etc. However, this article focuses on the deed of assignment.

It is the written proof of ownership that stipulates the kind of rights or interests being transferred to the buyer which is a legal interest.

Read Also: DIFFERENCE BETWEEN TRANSFER OF PROPERTY THROUGH WILLS AND DEED OF GIFT

CONTENTS OF A DEED OF ASSIGNMENT

Content of a Deed of Assignment matters a lot to the transaction and special skill is needed for a hitch-free transaction. The contents of a deed of assignment can be divided into 3 namely; the introductory part, the second (usually the operative part), and the concluding part.

• THE INTRODUCTORY PART: This part enumerates the preliminary matters such as the commencement date, parties in the transaction, and recitals. The parties mentioned in the deed must be legal persons which can consist of natural persons and entities with corporate personality, the name, address, and status of the parties must be included. The proper descriptions of the parties are the assignor (seller) and assignee (buyer). The Recitals give the material facts constituting the background to the current transaction in chronological order.
• THE SECOND PART (USUALLY THE OPERATIVE PART): This is the part where the interest or title in the property is actually transferred from the assignor to the assignee. It is more like the engine room of the deed of assignment. The operative part usually starts with testatum and it provides for other important clauses such as the consideration (price) of the property, the accepted receipt by the assignor, the description of the property, and the terms and conditions of the transaction.
• The testimonium : this shows that all the parties are involved in the execution of the deed.
• Execution : this means signing. The capacity of the parties (either individual, corporate bodies, illiterates) is of great essence in the mode of execution.  It is important to note that the type of parties involved determines how they will sign. Example 2 directors or a director/secretary will sign if a company is involved. In the same way, if an association, couple, individual, illiterate, family land (omonile), firm, unregistered association, etc. is involved the format of signature would be different.
• Attestation : this refers to the witnessing of the execution of the deed by witnesses.

For a Deed of Assignment to be effective, it must include a column for the Governor of the state or a representative of the Government where the property is, to sign/consent to the transaction. By virtue of Sec. 22 of the Land Use Act, and Sec. 10 Land Instrument Registration Law, the Governor must consent to the transaction.

Do you have any further questions? feel free to call Ibejulekkilawyer on 08034869295 or send a mail to [email protected] and we shall respond accordingly.

Disclaimer: The above is for information purposes only and should not be construed as legal advice. Ibejulekkilawyer.com (blog) shall not be liable to any person(s) for any damage or liability arising whatsoever following the reliance of the information contained herein. Consult us or your legal practitioner for legal advice.

Only 22% of poorest Nigerian households have electricity access –World Bank

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Deed Of Assignment For Rent Deposits (Occupation Lease)

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⛪ Rent deposit assignment

A rent deposit assignment is a legal document that assigns the responsibility for paying the rent on a property from one party to another. This type of assignment is typically used when a tenant is unable to make their rent payments and assigns the responsibility to a third party, such as a family member or friend. The assignment can also be used to assign the responsibility for paying the rent to a new tenant if the original tenant moves out before their lease is up.

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Standard Notice By Tenant Indicating Preference To Deal Directly With The Other Landlord

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Free Lease Assignment Agreement Template for Microsoft Word

Download this free Lease Assignment Agreement template as a Word document to easily assign a lease to another party with consent from the landlord.

Lease Assignment Agreement

THIS ASSIGNMENT OF TENANCY AGREEMENT dated this [Insert date]

[Insert name] (the “Assignor”)

– AND-

[Insert name] (the “Assignee”)

A. This is an agreement (the “Assignment”) to assign a residential tenancy agreement in real property according to the terms specified below.

B. The Assignor wishes to assign and transfer to the Assignee that tenancy agreement (the “Tenancy Agreement”) dated June 11, 2020, and executed by the Assignor as tenant and by _________________________ as landlord (the “Landlord”).

IN CONSIDERATION OF the Assignor agreeing to assign and the Assignee agreeing to assume the Tenancy Agreement for the Premises, and other valuable consideration, the receipt and sufficiency of which is hereby acknowledged, both parties agree to keep, perform and fulfill the promises, conditions and agreements below:

1. The Tenancy Agreement governs the rental of the following described premises (the “Premises”) to the Assignor: ______________________________________________

Assigned Tenancy Agreement

2. The Assignor assigns and transfers to the Assignee all of the Assignor’s right, title, and interest in and to the Tenancy Agreement and the Premises, subject to all the conditions and terms contained in the Tenancy Agreement.

Effective Date

3. This Assignment takes effect on June 11, 2020 (the “Effective Date”), and continues until the present term of the Tenancy Agreement expires on June 11, 2020.

Assignor’s Interest

4. The Assignor covenants that:

a. the Assignor is the lawful and sole owner of the interest assigned under this Assignment; b. this interest is free from all encumbrances; and c. the Assignor has performed all duties and obligations and made all payments required under the terms and conditions of the Tenancy Agreement.

Breach of Tenancy Agreement by Assignee

5. Consent to this Assignment will not discharge the Assignor of its obligations under the Tenancy Agreement in the event of a breach by the Assignee.

6. In the event of a breach by the Assignee, the Landlord will provide the Assignor with written notice of this breach and the Assignor will have full rights to commence all actions to recover possession of the Premises (in the name of the Landlord, if necessary) and retain all rights for the duration of the Tenancy Agreement provided the Assignor will pay all accrued rents and cure any other default.

Governing Law

7. It is the intention of the parties that this Assignment, and all suits and special proceedings under this Assignment, be construed in accordance with and governed, to the exclusion of the law of any other forum, by the laws of the State of New South Wales, without regard to the jurisdiction in which any action or special proceeding may be instituted.

Miscellaneous Provisions

8. This Assignment incorporates and is subject to the Tenancy Agreement, a copy of which is attached hereto, and which is hereby referred to and incorporated as if it were set out here at length. The Assignee agrees to assume all of the obligations and responsibilities of the Assignor under the Tenancy Agreement.

9. This Assignment will be binding upon and inure to the benefit of the parties, their successors, assigns, personal representatives, beneficiaries, executors, administrators, and heirs, as the case may be.

10. All rents and other charges accrued under the Tenancy Agreement prior to the Effective Date will be fully paid by the Assignor, and by the Assignee after the Effective Date. The Assignee will also be responsible for assuming and performing all other duties and obligations required under the terms and conditions of the Tenancy Agreement after the Effective Date.

11. There will be no further assignment of the Tenancy Agreement without the prior written consent of the Landlord.

IN WITNESS WHEREOF the Assignor and Assignee have duly affixed their signatures under hand and seal on this [Insert date]

SIGNED BY THE ASSIGNOR

_____________________________ Assignor: _________________________

in the presence of (Name of witness) _______________________

(Signature of witness) _____________________________

SIGNED BY THE ASSIGNEE _____________________________ Assignee: _______________________

in the presence of (Name of witness) ___________________

(Signature of witness) _______________________________

CONSENT OF LANDLORD

The Landlord in the above Assignment of Tenancy Agreement executed on [Insert date] consents to that Assignment. The Landlord also agrees to the Assignee assuming after [Insert date] the payment of rent and performance of all duties and obligations as provided in the Tenancy Agreement. Dated: [Insert date]

Landlord: _________________________

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Assignment Of Leases And Rents

Jump to section, what is an assignment of leases and rents.

The assignment of leases and rents, also known as the assignment of leases rents and profits, is a legal document that gives a mortgage lender right to any future profits that may come from leases and rents when a property owner defaults on their loan. This document is usually attached to a mortgage loan agreement.

Assignment of leases and rents allows lenders to a degree of financial protection in case a loan default occurs. This document is an agreement made between a borrower and a lender of mortgage loans. It often details an exact amount the lender will be entitled to if a default happens.

Common Sections in Assignments Of Leases And Rents

Below is a list of common sections included in Assignments Of Leases And Rents. These sections are linked to the below sample agreement for you to explore.

Assignment Of Leases And Rents Sample

Reference : Security Exchange Commission - Edgar Database, EX-10.9 10 d368735dex109.htm ASSIGNMENT OF LEASES AND RENTS , Viewed October 4, 2021, View Source on SEC .

Who Helps With Assignments Of Leases And Rents?

Lawyers with backgrounds working on assignments of leases and rents work with clients to help. Do you need help with an assignment of leases and rents?

Post a project  in ContractsCounsel's marketplace to get free bids from lawyers to draft, review, or negotiate assignments of leases and rents. All lawyers are vetted by our team and peer reviewed by our customers for you to explore before hiring.

ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.

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Veritas Global Law, PLLC ("Veritas") is a law firm specializing in Life Sciences, Private Equity, M&A, technology transactions and general corporate law. Veritas frequently represents clients seeking cost a cost efficient, on-demand, general counsel in a variety of general corporate law matters, and a range of contracts including NDAs, MSAs, Software as a Service (Saas) agreements. Veritas also represents U.S. and non-U.S. private investment fund GPs and LPs across a broad range of activities with a particular emphasis on private equity, venture capital, secondary funds, distressed funds and funds of funds. Mr. Harris received his LL.M. from the University of California, Berkeley, Boalt Hall School of Law and served as an articles editor of the Berkeley Business Law Journal and was an active member of the Berkeley Center for Law Business and the Economy. Additionally, Mr. Harris also holds a J.D. from Boston College Law School, a M.B.A. from the Boston College Carroll School of Management, a B.A. from Hampton University in Political Science with a minor in Economics and Spanish and a certificate in financial valuation from the University of Oxford, Saïd Business School.

Samantha P.

Samantha earned her J.D. at the University of Hawaii, William S. Richardson School of Law and has been a member of the Hawaii State Bar Association since 2020. Samantha has worked as a Family Law attorney in Hawaii since 2020, and has represented clients on a variety of family law matters including: premarital agreements, pre- and post-judgement custody, parenting time and child support issues, pre- and post-divorce issues, interstate custody, and paternity issues. Samantha is a certified E-RYT 200 yoga instructor, taught yoga classes at the Modern Hotel in Waikiki throughout law school, and continues to teach yoga classes at various yoga studios in Honolulu to this day.

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Matthew grew up in Leawood, Kansas. He graduated from the University of Kansas with a Bachelor of Arts degree in Political Science and Communications in 2016 and from the University of Kansas School of Law in 2019 where he received a Business and Commercial Law Certificate. During his time as an undergraduate, he worked at a consulting firm focused on political campaigns and corporate public relations. In May of 2020, he will receive an MBA with a focus on finance from the University of Kansas Business School. Matthew is interested in several practice areas including business and commercial law, arbitration, and civil litigation. In his free time, Matthew enjoys playing basketball, using his virtual reality headset and listening to audiobooks.

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I am a skilled legal researcher and writer with a background in contract drafting and negotiation as well as litigation. I've served as an arbitrator for the past three years and have presided over nearly 400 binding arbitrations for an online dispute resolution platform. Additionally, I am a content writer and editor for the insurance division of LexisNexis. In my role as a contractor for LexisNexis, I research, draft, and edit high-quality legal reference tools on a variety of insurance topics for use by lawyers and insurance industry professionals.

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Free Deed of Assignment Tenancy Agreement Sample Form and Template

A Deed of Assignment is a legal document that transfers the ownership rights and interests of a property or asset from one party, known as the assignor, to another party, known as the assignee. It is commonly used in real estate transactions but can also apply to other types of assets such as intellectual property rights, stocks, or contractual rights.

The Deed of Assignment serves as evidence of the transfer of ownership and provides a clear record of the transaction. It outlines the terms and conditions of the assignment, including the details of the parties involved, a description of the property or asset being assigned, and any applicable terms or conditions.

Key elements typically included in a Deed of Assignment are:

• Parties: The document identifies the assignor (current owner) and the assignee (new owner) involved in the transaction. It is essential to provide accurate and complete information about both parties.
• Description of the property or asset: The Deed of Assignment should include a detailed description of the property or asset being transferred. For real estate, this includes the physical address, boundaries, and any relevant identifying information. In the case of other assets, it may include specific details such as patent numbers or stock certificates.
• Consideration: Consideration refers to the value or payment exchanged in return for the assignment. It can be in the form of money, goods, services, or any other agreed-upon consideration. The Deed of Assignment should clearly state the consideration provided by the assignee to the assignor.
• Terms and conditions: This section outlines the specific terms and conditions of the assignment. It may include any restrictions, warranties, or obligations that the assignee must adhere to after the transfer of ownership. These terms are mutually agreed upon by both parties and are legally binding.
• Signatures and witnessing: To make the Deed of Assignment legally enforceable, it requires the signatures of both the assignor and the assignee. Additionally, it is common to have witnesses present during the signing of the document to validate its authenticity.

Once the Deed of Assignment is signed and executed, it becomes a legally binding agreement between the assignor and the assignee. It ensures that the assignee acquires the rightful ownership of the property or asset, and the assignor relinquishes their ownership rights.

It is important to note that the requirements and legal implications of a Deed of Assignment can vary depending on the jurisdiction. Consulting with legal professionals or experts in the relevant field is recommended to ensure compliance with local laws and regulations.

When Can A Contract Be Signed As A Deed?

Under certain circumstances, a contract can be signed as a deed, distinguishing it from a standard contract. This is typically the case when the parties involved agree that no consideration, or payment, is necessary for the agreement to be valid.

As a more formal document, a deed follows a specific execution process. It requires the presence of a witness during the signing and in some cases, the use of a seal to authenticate the deed.

Is it Possible to Reverse a Deed of Assignment?

Once a deed of assignment has been executed and dated, it remains legally binding and enforceable until specific actions are taken. These actions include varying the deed using a deed of variation, surrendering it using a deed of surrender, or selling the property involved. If you intend to make changes to the original deed, it is more common to surrender the entire deed and then create a new deed with the desired modifications.

Which document do I require, a deed of assignment or a deed of trust?

When it comes to transferring the beneficial interest in land or property from one party to another, a deed of assignment is typically utilized. This document focuses solely on the assignment of the beneficial interest. On the other hand, a deed of trust can serve the same purpose but includes additional clauses that outline procedures for selling the property, among other things.

For most married couples seeking to assign their beneficial interest in an investment property, a deed of assignment is suitable for their needs.

Download a Deed of Assignment Tenancy Agreement Template

If you like a custom, completely personalised assignment agreement, use the link below. It takes about 5 min to create and you will end up with an agreement, tailored to your specific property.

Download CUSTOM Assignment Agreement

Alternatively, if you just want to download a generic deed of assignment of tenancy template, use the link below.

Download GENERIC Deed of Assignment of Tenancy Agreement

All content on this form and other forms for landlords published by Property Division are provided “as is”, with no guarantees of completeness, accuracy or timeliness, and without representations, warranties or other contractual terms of any kind, express or implied. Property Division does not represent or warrant that this letter or other material supplied by Property Division will be accurate, current, uninterrupted, error-free or omission-free.

Can a landlord refuse to assign a lease in the UK?

In the United Kingdom, a landlord’s ability to refuse to assign a lease is governed by the terms of the lease agreement and relevant landlord and tenant laws. The Landlord and Tenant Act 1988 (as amended) provides certain protections and guidelines for both landlords and tenants regarding the assignment of leases.

Here are some key points to consider:

• Lease Agreement Terms: The terms of the lease agreement will typically outline the conditions and requirements for assigning the lease. Some leases may include provisions that require the tenant to obtain the landlord’s consent before assigning the lease.
• Reasonable Refusal: The Landlord and Tenant Act 1988 imposes certain restrictions on a landlord’s ability to unreasonably withhold consent to an assignment. Generally, the landlord’s refusal must be reasonable, and they cannot arbitrarily deny permission. Common reasons for refusal may include concerns about the financial stability of the proposed assignee or if the assignee’s intended use of the property violates the terms of the lease.
• Landlord’s Costs: The landlord may be entitled to recover reasonable costs incurred in considering the request for assignment. These costs should be outlined in the lease agreement.
• Procedure for Seeking Consent: The lease agreement may specify the procedure that the tenant must follow when seeking the landlord’s consent for an assignment. It is important for tenants to adhere to these procedures to ensure compliance with the terms of the lease.
• Landlord’s Remedies: If the landlord believes there are valid reasons to refuse consent, they may have remedies available under the lease agreement or applicable law. However, these reasons must typically be specified in the lease.

It’s important for both landlords and tenants to be aware of the specific terms of the lease agreement and to understand their rights and responsibilities under the Landlord and Tenant Act 1988. If disputes arise, seeking legal advice is recommended to ensure compliance with the law and the terms of the lease. Additionally, the laws and regulations may be subject to change, so staying informed about any updates is advisable.

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Deed of Assignment - Commercial Lease

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A Deed of Assignment for a Commercial Lease allows the Tenant of a commercial property with an existing commercial lease, to transfer the legal interest of the Tenant in that commercial property to another individual , company or partnership. This means that after the assignment, the original tenant under the commercial lease will no longer be the tenant of the commercial property and the person to who the lease is transferred will become the new tenant of the commercial property. As a consequence, the Tenant (also known as the " Assignor ") will have to vacate the commercial property, which will then be occupied by another person (known as the " Assignee "). The Assignee upon taking over the occupation of the commercial property will have to adhere to the terms contained in the lease including the amount of rent, the duration of the lease, payment schedules and other undertakings.

A Deed of Assignment can be beneficial to the Assignor in that it grants them the opportunity to leave the leased property before the expiration of the agreed termination date of the lease . This can be particularly useful where the Assignor judges that it will not be able to keep up with rent payments for the remainder of the lease due to economic constraints and wishes to completely let go of the property, or where the Assignor comes to the decision that it does not need the lease anymore for its business and wishes to transfer it completely to another party without retaining any rights to the property.

This template can be used to create such a Deed of Assignment for a commercial lease. This Deed of Assignment makes provision for the Assignee to pay a fee to the Assignor, which in effect is like a price which the Assignee is using to buy the rights of the commercial lease from the Assignor. This fee is known as the Premium . The Deed of Assignment also makes provision for the event where the Assignee will cover any additional costs the Assignor may incur as a result of the assignment, such as legal costs or any incidental costs that are separate from the Premium . An example of how this applies is where the Assignor hires a solicitor to provide legal advice and oversee the assignment of the lease, the Assignor may wish for the Assignee to be the one to pay for the costs incurred in hiring a solicitor. This cost will not form part of the Premium but rather an additional cost that the Assignor will bear and may therefore prefer for the Assignee to cover such cost.

This template also makes note of the persons who were parties to the commercial lease. Where there was a guarantor for the original Tenant, that person will not be a party to this assignment. The guarantor's identity is only noted in this template to accurately list all the parties to the commercial lease for record and documentary purposes.

A Deed of Assignment is a legally binding contract between all the interested parties, including the Assignor, the Assignee and the Landlord (i.e. the Owner of the commercial property). Before a commercial property can be assigned, the landlord's consent will usually be required. Similarly, the Commercial Lease will usually preclude the Assignor (i.e. the Tenant under the Commercial Lease) from assigning the lease unless the landlord expressly consents to such assignment. Under UK law, a landlord is under an implied duty to consent to the assignment of the lease unless it would be unreasonable to do so. Such consent should be given in within a reasonable time and it should be given in writing, although there is no strict format that this written notice must follow. In the rare case where the commercial lease does not state whether the assignment of the lease is subject to the landlord's consent, it will mean that the Assignor can assign the lease without the need for such landlord's consent. It is therefore important to refer to the commercial lease concerned and confirm what the lease's provisions are regarding its assignment and the landlord's consent. Where the landlord's consent is required for the assignment of the lease, the original Tenant should contact the landlord to address matters and request that consent is given. The manner with which the Original tenant should inform the landlord about the assignment of the lease and request consent will be contained in the commercial lease.

This Deed of Assignment can only be used where the commercial property is located in the jurisdiction of England and Wales .

This template can be used where the assignment of the lease applies to either of the two scenarios:

• Where the term of the commercial lease has not expired and there is still time remaining. For example where the commercial lease was for 6 years and the original Tenant has only used 3 years, with 3 years of the term left unused.
• Where the term of the commercial lease has expired but the original Tenant is still in possession of the property. This scenario is called a continuation of the lease. A continuation of the lease can occur either through an application made by the original Tenant to the court or it can occur automatically under statutory provisions.

Note: This document should only be used where the commercial lease is an unregistered lease . An unregistered commercial lease is a lease which was granted for a period of 7 (seven) years or less . Under UK law, if a commercial lease is for a period of more than 7 years, it has to be registered at the Land Registry. Where the lease is a registered lease and the original Tenant wishes to assign the lease, the TR1 form should instead be used.

Differences between a deed of assignment and a commercial sublease agreement

Under an assignment of a commercial lease, the Tenant (i.e. the Assignor) ceases to be liable for any breaches of the original lease and the responsibility for liability is legally transferred to the Assignee from the date of assignment. Whereas, under a commercial sublease, the Tenant (i.e. the Sublandlord) remains liable under the original lease for any breaches that may be committed by the party who is subleasing (i.e. the Subtenant). Under an assignment of a commercial lease, the Tenant (i.e. the Assignor) will not share the property with the Assignee , rather the Assignee will enjoy full possession of the commercial property from the date of assignment until the end of the term of the commercial lease. Whereas, under a commercial sublease, it is commonplace for the Tenant (i.e. Sublandlord) to only sublease a portion of the commercial property to the Subtenant and thus continue in shared possession of the commercial property with the Subtenant.

How to use this document

This Deed of Assignment allows the user to input all of the required rights and responsibilities that are necessary to assign the commercial property to an Assignee. The document allows a user to :

• input the address of the commercial property;
• the amount of Premium to be paid by the Assignee;
• the method of payment of the Premium;
• the date of the landlord's consent (if applicable);
• the details of any additional costs;
• whether the Assignee will indemnify the Assignor for losses;
• whether there is another agreement that also addresses the assignment of the lease;
• what type of title guarantee is being assigned; and
• other important details.

After the document has been filled out, it should be printed and signed by the parties. Consequently, each party should hold a copy of the signed deed for reference purposes.

As this Deed of Assignment relates to an interest in land, it is required to be executed as a deed . This means that it must be in writing and must be signed in the presence of a witness . If the party is a company, instead of a witness, the deed can be signed by two directors or by a director and the company secretary.

Applicable Law

Landlord and Tenant (Covenants) Act 1995

Law of Property (Miscellaneous Provisions) Act 1994

Landlord and Tenant Act 1954

Law of Property Act 1925

Land Registration Act 2002

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A guide to help you: Signing Documents in England and Wales

Other names for the document:

Commercial Sublease Agreement, Deed of Assignment of Lease, Deed of Assignment of Commercial Lease, Deed of Assignment of Unregistered Lease, Assignment of Commercial Lease

Country: United Kingdom

Commercial Property - Other downloadable templates of legal documents

• Business Lease Agreement
• Commercial Lease (Scotland)
• Sublease Agreement - Commercial Lease
• Formal Complaint to Landlord - Commercial Lease
• Consent for Subleasing of Commercial Premises
• Business Licence to Occupy
• Other downloadable templates of legal documents

Suggestions

Assignment of a tenancy

Requirements and formalities for assigning a tenancy, and liability for rent arrears of old and new tenants.

What is assignment

Rights to assign, prohibition and consent, how to assign a tenancy, arrears and assignment.

Assignment is a way that a tenant can transfer their tenancy to another person.

On assignment, the assignor's legal interest in a property is passed to the assignee who takes over that interest and becomes the tenant. All the terms of the original tenancy agreement apply to both the new tenant and the landlord, including the amount of rent payable.

Where a tenant grants someone a tenancy and remains a tenant of the original landlord this won’t be an assignment. Instead a subtenancy is created, and the original tenant becomes the landlord of the new tenant.

Whether assignment is possible will depend on:

the type of tenancy

what the tenancy agreement says

whether the landlord agrees

Under section 1(1) of the Law of Property Act 1925 all tenants, including those with a long lease, have a legal estate (an interest) in land. With this comes a general right to assign that estate to another person.

For many types of tenancy this general right is modified by statutory provisions that limit when and to whom the tenancy can be assigned. This will override the general right to assign.

Joint tenancies can be assigned but are still subject to the statutory rules for that type of tenancy. [ 1 ]

A tenancy agreement can also limit when and how a tenancy can be assigned. For example, by requiring the landlords consent.

Find out more about rights to assign for:

secure, flexible and introductory tenancies

assured and assured shorthold tenancies

regulated tenancies

Licences are not a legal interest in land and cannot be assigned.

If the tenancy agreement says nothing about assignment then, subject to any statutory limitations, the tenant is free to assign.

In most cases, the tenancy agreement will only allow assignment if the landlord gives their consent (a qualified prohibition).

If the tenancy agreement states that assignment is not allowed (an absolute prohibition), the tenant can still assign but they will be in breach of the tenancy. 

Qualified prohibition

If the tenancy agreement contains a qualified prohibition stating that the tenant may not assign without the landlord's consent, then the landlord cannot ‘unreasonably withhold’ consent. [ 2 ] This is an implied term of the agreement.

Whether consent has been unreasonably withheld will depend on the facts of the case. [ 3 ]

The courts have previously held that:

the purpose of a term in a tenancy agreement prohibiting assignment without the landlord's consent is to protect landlords from having their premises occupied in an undesirable way or by an undesirable assignee. The landlord cannot refuse consent on grounds that have nothing to do with the relationship of landlord and tenant, but can refuse if the potential assignee is not, for example, financially sound [ 4 ]

it may be reasonable for a landlord to refuse consent because of the purpose for which the assignee intends to use the premises, even if that purpose is not forbidden by the original tenancy agreement [ 5 ]

although landlords need only usually consider their own interests, there may be cases where there is such a disproportion between the detriment to the landlord and the detriment to the assigning tenant that it would be unreasonable for the landlord to refuse consent. [ 6 ] An example of this might be where the property is very difficult to assign and the tenants would have great difficulty in finding another potential assignee, whereas the landlord's loss in accepting the proposed tenant is minimal

The court has held that consent was not considered to be unreasonably withheld where the tenant had arrears. [ 7 ]

For tenancies granted after 1 January 1996, a landlord has the right, in certain circumstances, to require that the tenant wishing to assign should act as the guarantor of the new assignee where it is reasonable to do so. [ 8 ]

Discrimination

The Equality Act 2010 makes it unlawful for a landlord to refuse consent on the grounds of a protected characteristic (disability, gender reassignment, pregnancy or maternity, race, sex, sexual orientation, and religion or belief). [ 9 ]

A person who has the right to dispose of premises must not unlawfully discriminate against any person on the basis of any of the above protected characteristics by: [ 10 ]

the terms on which they offer to dispose of the premises

declining to dispose of the premises, or

the way in which they treat a person seeking to move in to the premises

The right to dispose of premises includes the right to assign. [ 11 ]

Getting the landlords consent

If a tenancy is assigned without consent where the agreement requires it, this provide a ground for possession against the new tenant.

It is not possible to argue that the landlord could not have reasonably refused consent after the assignment has taken place. [ 12 ]

The Landlord and Tenant Act 1988 introduced a procedure that can be followed to obtain consent. It applies where the tenancy agreement contains a qualified prohibition against assignment. The Act only applies to applications for consent made after 29 September 1988. It does not apply to secure tenancies.

The tenant must serve a written application for consent to assign on the landlord, and the landlord must reply in writing within a reasonable time (the Act does not define what is a reasonable time), giving consent unless it is reasonable not to do so.

If consent is refused, the landlord must give the tenant reasons for the refusal. [ 13 ] If the landlord does not reply or withholds consent unreasonably, the tenant will be able to take a civil action for damages against the landlord for breach of this duty. [ 14 ] The onus of proof that any refusal of consent was reasonable is on the landlord. [ 15 ]

Tenants could also seek a declaration that the landlord is acting unreasonably where they do not want to take the risk of assigning without consent. Alternatively, the tenant could combine a claim for damages for breach of statutory duty with one for an injunction requiring the landlord to comply with their duty.

Assignment without consent or where prohibited

Where the tenancy agreement has an absolute or qualified prohibition against assignment and the tenant assigns the tenancy without the landlord's consent, the assignment will still be effective as long as it is by deed. [ 16 ]

However, the landlord may be able to bring possession proceedings against the new tenant.

In order for an assignment to be legal, it must be made by deed. A deed is a written document that has been signed and labelled as a deed and witnessed. This is necessary in order for the assignment to bind the landlord and any other party affected by the assignment but not part of the agreement to assign.

A deed is required even where the original tenancy was agreed orally. [ 17 ]

In one case, even though the tenant had undertaken in divorce proceedings to transfer the tenancy into his wife's name, the fact that there was no deed meant that an assignment was found not to have occurred. Nothing was done to transfer the tenancy into the wife's name, although she continued to live in the flat on her own and pay the rent. When she asked the managing agents to put the rent book in her name, they recovered possession of the property. [ 18 ]

The deed must give the name(s) and address of the original tenant(s) and the new tenant(s) (the address might be the same, depending on the situation). It must also give the details of the landlord. An independent person must witness the signatures of the original tenant(s) and the new tenant(s), but the same person can witness all the signatures.

The new tenants should keep the deed of assignment in to prove the assignment took place. It’s also a good idea for the outgoing tenant to have a copy in case of any disputes.

Equitable assignment

An attempt to assign a tenancy without satisfying all the formalities of a deed may still be effective as equitable assignment if the agreement to assign is evidenced in writing. [ 19 ] The equitable assignment will bind the parties who signed the written agreement and make them liable to damages for breach of contract as well as to orders for specific performance.

The new tenant is not liable for rent arrears that accrued before they took over the tenancy. [ 20 ]

An assignee is not legally liable to meet the contractual terms of the original tenant's agreement with the landlord where the liability arose before the assignment.

The original tenant is the only person who can legally be sued for any arrears existing at the time of assignment.

In practice, some local authorities require the assignee to clear any existing arrears. An Ombudsman's decision held that an agreement to clear arrears could be deemed to constitute an illegal premium, and enforceability of the agreement would be by no means certain. [ 21 ]

Arrears after assignment

For tenancies arising on or after 1 January 1996, [ 22 ] normally only the assignee can be held liable for rent due after the assignment.

The exception is where either:

there is a prohibition against assignment and the landlord's consent should have been obtained and was not

the original tenant agreed to act as a guarantor of the new assignee

Where the tenancy was created prior to 1 January 1996 (or in one of the other cases mentioned above), the landlord can take action for arrears against either the assignee or the assignor.

However, if the landlord wishes to take action against the assignor, they must notify the assignor of the arrears on a prescribed form within six months of the arrears falling due. [ 23 ] The assignor will be able to sue the assignee if they have to pay the rent arrears, as there is an implied term in all deeds of assignment that indemnifies the assignor. [ 24 ]

Last updated: 12 March 2021

Burton v Camden LBC [2000] UKHL 8.

s.19(1)(a) Landlord and Tenant Act 1927.

Braun v Westminster Anglo-Continental Investment Co Ltd [1975] 240 EG 927.

Gibbs and Houlder Bros and Co. Ltd Lease, Houlder Bros and Co. v Gibbs [1925] Ch 575, CA.

Rossi v Hestdrive Ltd [1985] 1 EGLR 50.

International Drilling Fluids Ltd v Louisville Investments (Uxbridge) Ltd [1986] Ch 513.

Greenwood Reversions Ltd v World Environment Foundation Ltd and Mehra [2008] EWCA Civ 47.

s.16 Landlord and Tenant (Covenants) Act 1995.

ss.2-8 and s.32(1) Equality Act 2010.

s.33(1) Equality Act 2010.

s.38 Equality Act 2010.

Hendry v Chartsearch Ltd, The Times, 16 September 1998 CA.

s.1(3) Landlord and Tenant Act 1988.

s.4 Landlord and Tenant Act 1988.

s.1(6)(c) Landlord and Tenant Act 1988.

See for example the assured tenancy case of Sanctuary Housing Association v Baker (1997) 30 HLR 809.

ss.52-53 Law of Property Act 1925.

Crago v Julian (1991) 24 HLR 306 CA.

s.2 Law of Property (Miscellaneous Provisions) Act 1989.

s.17 Landlord and Tenant (Covenants) Act 1995.

Ombudsman Investigation 90/B/1668, 5 December 1995, Wellingborough BC.

s.5 of the Landlord and Tenant (Covenants) Act 1995

s.77 and Parts 7, 8, and 9 of Sch.2 Law of Property Act 1925.

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Legal Templates

Home Business Assignment Agreement

Assignment Agreement Template

Use our assignment agreement to transfer contractual obligations.

Updated February 1, 2024 Reviewed by Brooke Davis

An assignment agreement is a legal document that transfers rights, responsibilities, and benefits from one party (the “assignor”) to another (the “assignee”). You can use it to reassign debt, real estate, intellectual property, leases, insurance policies, and government contracts.

What Is an Assignment Agreement?

What to include in an assignment agreement, how to assign a contract, how to write an assignment agreement, assignment agreement sample.

Partnership Interest

An assignment agreement effectively transfers the rights and obligations of a person or entity under an initial contract to another. The original party is the assignor, and the assignee takes on the contract’s duties and benefits.

It’s often a requirement to let the other party in the original deal know the contract is being transferred. It’s essential to create this form thoughtfully, as a poorly written assignment agreement may leave the assignor obligated to certain aspects of the deal.

The most common use of an assignment agreement occurs when the assignor no longer can or wants to continue with a contract. Instead of leaving the initial party or breaking the agreement, the assignor can transfer the contract to another individual or entity.

For example, imagine a small residential trash collection service plans to close its operations. Before it closes, the business brokers a deal to send its accounts to a curbside pickup company providing similar services. After notifying account holders, the latter company continues the service while receiving payment.

Create a thorough assignment agreement by including the following information:

• Effective Date:  The document must indicate when the transfer of rights and obligations occurs.
• Parties:  Include the full name and address of the assignor, assignee, and obligor (if required).
• Assignment:  Provide details that identify the original contract being assigned.
• Third-Party Approval: If the initial contract requires the approval of the obligor, note the date the approval was received.
• Signatures:  Both parties must sign and date the printed assignment contract template once completed. If a notary is required, wait until you are in the presence of the official and present identification before signing. Failure to do so may result in having to redo the assignment contract.

Review the Contract Terms

Carefully review the terms of the existing contract. Some contracts may have specific provisions regarding assignment. Check for any restrictions or requirements related to assigning the contract.

Check for Anti-Assignment Clauses

Some contracts include anti-assignment clauses that prohibit or restrict the ability to assign the contract without the consent of the other party. If there’s such a clause, you may need the consent of the original parties to proceed.

Determine Assignability

Ensure that the contract is assignable. Some contracts, especially those involving personal services or unique skills, may not be assignable without the other party’s agreement.

Get Consent from the Other Party (if Required)

If the contract includes an anti-assignment clause or requires consent for assignment, seek written consent from the other party. This can often be done through a formal amendment to the contract.

Prepare an Assignment Agreement

Draft an assignment agreement that clearly outlines the transfer of rights and obligations from the assignor (the party assigning the contract) to the assignee (the party receiving the assignment). Include details such as the names of the parties, the effective date of the assignment, and the specific rights and obligations being transferred.

Include Original Contract Information

Attach a copy of the original contract or reference its key terms in the assignment agreement. This helps in clearly identifying the contract being assigned.

Execution of the Assignment Agreement

Both the assignor and assignee should sign the assignment agreement. Signatures should be notarized if required by the contract or local laws.

Notice to the Other Party

Provide notice of the assignment to the non-assigning party. This can be done formally through a letter or as specified in the contract.

File the Assignment

File the assignment agreement with the appropriate parties or entities as required. This may include filing with the original contracting party or relevant government authorities.

Communicate with Third Parties

Inform any relevant third parties, such as suppliers, customers, or service providers, about the assignment to ensure a smooth transition.

Keep Copies for Records

Keep copies of the assignment agreement, original contract, and any related communications for your records.

Here’s a list of steps on how to write an assignment agreement:

Step 1 – List the Assignor’s and Assignee’s Details

List all of the pertinent information regarding the parties involved in the transfer. This information includes their full names, addresses, phone numbers, and other relevant contact information.

This step clarifies who’s transferring the initial contract and who will take on its responsibilities.

Step 2 – Provide Original Contract Information

Describing and identifying the contract that is effectively being reassigned is essential. This step avoids any confusion after the transfer has been completed.

Step 3 – State the Consideration

Provide accurate information regarding the amount the assignee pays to assume the contract. This figure should include taxes and any relevant peripheral expenses. If the assignee will pay the consideration over a period, indicate the method and installments.

Step 4 – Provide Any Terms and Conditions

The terms and conditions of any agreement are crucial to a smooth transaction. You must cover issues such as dispute resolution, governing law, obligor approval, and any relevant clauses.

Step 5 – Obtain Signatures

Both parties must sign the agreement to ensure it is legally binding and that they have read and understood the contract. If a notary is required, wait to sign off in their presence.

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Deed of Assignment

Introduction.

Most of the time, when a tenant chooses to leave their property they will do so at the end of the fixed term of the tenancy and they will give you vacant possession of the property when they do.

However, sometimes one of your tenants will want to leave in the middle of a tenancy and the other remaining tenants will want to stay. In these circumstances if you do agree to allow them to leave the agreement, you can provide a new tenancy agreement that starts afresh, or you, the outgoing tenant, the remaining tenants and the replacement tenant can sign a deed of assignment. This will transfer the outgoing tenants interest in the property over to their replacement.

Deeds and signatures

As a deed this document must be signed by all parties but that signature must be witnessed by someone who is not a family member or a party to the agreement. The most appropriate way to do this is to have the witness be physically present in the room as the parties sign the deed.

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