Occasionally, tenants want to leave a rental property before the end of their lease. When this happens, those tenants may want to completely transfer their lease interests to someone else. With an assignment of residential lease form, your current tenant can assign their entire interest in the property to another party, with your written permission. The new tenant takes on the lease responsibilities, including rent and property maintenance, and the original tenant is released from most (if not all) of its duties. Because successful property management begins with good documentation, LegalZoom offers an Assignment of Residential Lease you can use to confirm in writing your approval of your tenant's transfer. A LegalZoom Assignment of Residential Lease gives you:
- Essential Documentation: Ensure all parties understand the obligations that are being transferred and the responsibilities that they will have.
- Dos & Don'ts: Discover the difference between an assignment and a sublease.
- Detailed Instructions: Learn how to understand the terms of your assignment.