Lease Assumption Agreement for the United States

Lease Assumption Agreement Template for United States

A Lease Assumption Agreement is a legal document used in the United States that facilitates the transfer of lease obligations from an existing tenant to a new tenant. The agreement ensures that the assuming party takes over all rights, responsibilities, and obligations under the original lease terms, while potentially releasing the original lessee from future liability. This document requires compliance with both federal and state-specific property laws and often needs the explicit consent of the original lessor.

Your data doesn't train Genie's AI

You keep IP ownership of your information

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Download a Standard Template

4.6 / 5
4.8 / 5
Access for free
OR

Alternatively: Run an advanced review of an existing
Lease Assumption Agreement

Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
Upload your Doc

What is a Lease Assumption Agreement?

The Lease Assumption Agreement is commonly used when a tenant needs to exit a lease early but has found another party willing to take over the remaining term. This document is crucial in the United States real estate market as it provides a formal mechanism for transferring lease obligations while protecting all parties' interests. The agreement typically includes details about the original lease, the property, financial obligations, and any modifications to the original terms. It requires careful consideration of both federal and state property laws, as well as local regulations.

What sections should be included in a Lease Assumption Agreement?

1. Parties: Identification of original lessor, lessee, and assuming party

2. Background: Context of original lease and reason for assumption

3. Definitions: Key terms used throughout the agreement

4. Assumption of Obligations: Core terms of assumption of lease obligations

5. Original Lessor Consent: Explicit consent from original lessor for the assumption

6. Release of Original Lessee: Terms of release for original lessee from obligations

7. Governing Law: Applicable jurisdiction and laws

8. Execution: Signature blocks and date

What sections are optional to include in a Lease Assumption Agreement?

1. Security Deposit Transfer: Terms for transfer of existing security deposit when there is an existing security deposit to be handled

2. Modifications to Original Lease: Any agreed changes to original lease terms when parties wish to modify the original lease conditions

3. Insurance Requirements: Specific insurance obligations when special insurance arrangements are needed

What schedules should be included in a Lease Assumption Agreement?

1. Schedule A - Original Lease Agreement: Copy of the original lease being assumed

2. Schedule B - Property Description: Detailed description of leased property

3. Schedule C - Financial Statements: Financial information of assuming party when required by lessor

4. Schedule D - Consent Documentation: Any required third-party consents and approvals

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

United States

Publisher

Genie AI

Cost

Free to use
Industries

Truth in Lending Act: Federal law that requires disclosure of credit terms and financing information if the lease involves financing arrangements

Fair Credit Reporting Act: Federal legislation governing the collection and use of credit information when performing credit checks on potential lease assumers

Federal Consumer Leasing Act: Federal law requiring specific disclosures and regulations for consumer leases to ensure transparency and fairness

Americans with Disabilities Act: Federal law ensuring accessibility requirements and accommodations in commercial property leases

State Property Laws: State-specific regulations governing property rights, transfers, and obligations related to real estate

State Landlord-Tenant Laws: State-specific regulations defining rights and obligations of landlords and tenants in lease relationships

State Contract Laws: State-specific rules governing contract formation, enforcement, and remedies

State Consumer Protection Laws: State-specific regulations protecting consumers from unfair practices in leasing transactions

Uniform Commercial Code: State-adopted standardized commercial laws affecting certain types of lease transactions

Statute of Frauds: Legal doctrine requiring certain contracts, including lease assumptions, to be in writing to be enforceable

Assignment and Delegation Principles: Legal principles governing the transfer of rights and obligations under existing contracts

Privity of Contract: Legal doctrine defining the relationship and obligations between parties in a lease assumption

Local Zoning Ordinances: Municipal regulations governing property use and restrictions that may affect lease assumptions

Local Housing Codes: Municipal regulations establishing minimum standards for residential properties if the lease involves residential property

Recording Requirements: State and local requirements for recording lease assumption agreements involving real property

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Assignment Of Real Estate Contract And Sale Agreement

A U.S. legal document that transfers rights and obligations under a real estate contract from one party to another.

find out more

Agreement To Assignment

A U.S. legal document formalizing the transfer of rights, obligations, or property from one party to another, governed by state and federal laws.

find out more

Assignable Purchase Contract

A U.S.-governed contract establishing purchase terms with the right to assign the contract to third parties.

find out more

Assignment Of Real Estate Purchase Contract

A U.S. legal document that transfers a buyer's rights and obligations in a real estate purchase contract to another party.

find out more

Assignment Of Lease From Seller To Buyer Form

A U.S. legal document that transfers lease rights and obligations from an existing tenant to a new tenant.

find out more

Assignment Of Property Contract

A U.S. legal document that transfers property ownership rights from one party to another, subject to federal and state property laws.

find out more

Assignment Of Contract Of Purchase And Sale

A U.S. legal document that transfers a buyer's rights and obligations under a purchase and sale agreement to another party.

find out more

Wholesaling Real Estate Contracts

A U.S.-governed contract template for real estate wholesaling transactions, enabling property purchase with assignment rights to end buyers while ensuring legal compliance.

find out more

Assignment Of Purchaser's Interest In Land Contract

A U.S. legal document that transfers a purchaser's rights and obligations under a land contract to a new buyer.

find out more

Assignment Assumption Agreement

A U.S. legal document that transfers contractual rights and obligations from one party to another, ensuring proper assumption of responsibilities and benefits.

find out more

Assignment Of Lease By Tenant

A U.S. legal document that transfers a tenant's lease rights and obligations to a new tenant, subject to landlord approval.

find out more

Addendum Assignment Contract

A U.S.-governed legal document that transfers contractual rights and obligations from one party to another.

find out more

Assignment Of Judgment Agreement

A U.S. legal document that transfers ownership rights of a court judgment from one party to another.

find out more

Assignment Of Construction Contract To Lender

A U.S. legal document transferring construction contract rights from a contractor to a lender as security for financing.

find out more

Assignment Of Leases And Rents

A U.S. security instrument that assigns property leases and rental income as loan collateral.

find out more

Assignment And Assumption Of Lease

A U.S. legal document that transfers a tenant's lease rights and obligations to a new tenant, subject to landlord approval and state property laws.

find out more

Assignment Fee Agreement

A U.S. legal document establishing terms for the transfer of rights from one party to another in exchange for a fee, governed by state contract laws.

find out more

Assignable Lease

A U.S.-governed lease agreement that permits the transfer of tenant rights and obligations to another party, subject to specified conditions.

find out more

Assignment And Amendment Agreement

A U.S. legal document that facilitates the transfer of contractual rights and obligations while simultaneously modifying terms of the original agreement.

find out more

Assignment And Assumption Of Contract

A U.S. legal document that transfers contractual rights and obligations from one party to another, subject to state contract laws.

find out more

Assignment And Assumption Agreement Asset Purchase

A U.S. legal document that transfers rights and obligations related to assets from one party to another, including terms of transfer and assumption of liabilities.

find out more

Assignment Of Lease To New Owner

A U.S. legal document that transfers existing lease rights and obligations from a current property owner to a new owner.

find out more

Assignment Of Lease By Lessor

A U.S. legal document transferring a lessor's rights and obligations under an existing lease to a new lessor while maintaining original lease terms.

find out more

Assignment Of Contract Of Sale

A U.S. legal document that transfers rights and obligations under a sales contract from one party to another.

find out more

Assignment Of Asset Purchase Agreement

A U.S. legal document that transfers rights and obligations under an existing Asset Purchase Agreement from one party to another.

find out more

Assignable Option Agreement

A U.S. legal agreement granting transferable rights to execute a future transaction or acquire assets within a specified timeframe.

find out more

Assignment Of Lease Contract

A U.S. legal document transferring lease rights and obligations from one party to another, subject to state and federal property laws.

find out more

Assignment Of Intellectual Property Rights Agreement

A U.S.-governed agreement that transfers ownership of intellectual property rights from one party to another.

find out more

Assignment Of Equipment Lease

A U.S. legal document that transfers rights and obligations under an existing equipment lease from one party to another.

find out more

Assignment Of Agreement Addendum

A U.S. legal document that transfers rights or obligations under an existing agreement from one party to another.

find out more

Assignment Of Purchase Order

A U.S. legal document that transfers rights and obligations under an existing purchase order from one party to another, governed by state law and the UCC.

find out more

Assignment Assumption And Amendment Agreement

A U.S.-governed agreement that facilitates the transfer of contractual rights and obligations while modifying the original agreement's terms.

find out more

Agreement To Assign Contract For Sale And Purchase

A U.S. legal agreement that transfers rights and obligations under an existing sales contract from one party to another.

find out more

Assignment Of Liabilities Agreement

A U.S. legal document that transfers specified financial obligations or debts from one party to another, governed by federal and state contract laws.

find out more

Assignment Of Lease By Landlord

A U.S. legal document that transfers a landlord's rights and obligations under an existing lease to a new landlord.

find out more

Assignment Of Option Agreement

A U.S. legal document that transfers rights and obligations under an existing option agreement from one party to another.

find out more

Assignment Of Purchase And Sale Agreement

A U.S. legal document that transfers a buyer's rights and obligations under a purchase and sale agreement to another party.

find out more

Assignment Of Patent Rights Agreement

A US-law governed agreement that transfers ownership rights in patents from one party to another, complying with USPTO requirements.

find out more

Assignment Of Franchise Agreement

A U.S. legal document that transfers franchise rights and obligations from one franchisee to another, subject to federal and state franchise regulations.

find out more

Assignment Of Receivables Agreement

A U.S.-governed agreement that transfers accounts receivable from one party to another, typically used in business financing transactions.

find out more
See more related templates

Genie’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; Genie’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

We are ISO27001 certified, so your data is secure

Organizational security:

You retain IP ownership of your documents and their information

You have full control over your data and who gets to see it

2 Docs LeftAccess Now