Assignment of Lease review

Assignment of a commercial or residential lease with landlord consent and assignee assumption.

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7 document-specific checks
+ 108 general checks
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What it checks

Assignor / assignee / lease identification

Assignment must identify assignor, assignee, and the underlying lease.

Critical · RE-054

Landlord consent

Most commercial leases require landlord consent to assignment; the assignment should evidence that consent.

Critical · RE-055

Assumption of obligations by assignee

Assignee should expressly assume all tenant obligations under the lease.

Critical · RE-056

Release of assignor (or continuing liability)

Assignment should address whether assignor is released or remains liable.

Warning · RE-057

Effective date of assignment

Assignment must state an effective date.

Critical · RE-058

Security deposit / prepaid rent transfer

Assignment should address transfer of security deposit and any prepaid rent.

Warning · RE-059

Recording / notice to mortgagee

Lease assignments may need to be recorded (memorandum of lease was recorded) and / or noticed to mortgagee under SNDA.

Note · RE-060

Every run also applies 108 general checks that belong to any agreement: structure, parties and signatures, defined terms, cross-references, dates, amounts, and one-sided terms.

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