What is an Assignment of Leases?
Have you recently signed a rental lease with real estate? Do you know you have a legal option to transfer or assign this Lease to someone else?
This mutual agreement between you, your landlord, and your assigned tenant are known as the assignment of leases. Instead of you, your assignee tenant will pay the rent to your landlord for the remaining six months.
What is meant by Assignment of Leases?
An assignment of Lease is defined as the legal permission your landlord grants you when you want to pass your rented flat or office space to a new tenant. It is also called a lease transfer or a lease takeover.