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Assignment and Assumption Agreement
Free assignment and assumption agreement template — transfers rights and obligations under an existing contract to a new party.
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This free assignment and assumption agreement covers 1. Assignment, 2. Assumption, 3. Consent of Counterparty, 4. Release of Assignor, 5. Representations with 6 clearly marked [placeholder] fields to fill in — built for individuals and small businesses handling a straightforward legal document themselves needing a clear, professional document without commissioning custom legal drafting for a routine situation. Copy it into your own word processor, fill in the placeholders, and review it — or adapt it — before use. It's part of docstoc's free document template library, alongside business, legal, real estate, finance, and HR templates. Every template here is free to copy with no signup required, and each one carries a plain disclaimer: this is a starting point for informational purposes, not a substitute for advice from a licensed professional in your jurisdiction.
Assignment and Assumption Agreement
Assignor: [Name] (currently party to the original contract) Assignee: [Name] (taking over the rights/obligations) Original Contract: [Reference — name and date] Date: [Date]
1. Assignment
Assignor assigns to Assignee all of Assignor's rights, title, and interest in the Original Contract.
2. Assumption
Assignee accepts the assignment and assumes all of Assignor's obligations under the Original Contract, effective [Date].
3. Consent of Counterparty
[If the original contract requires the other party's consent to assign: "This assignment is subject to and conditioned upon the written consent of [Counterparty Name], attached."]
4. Release of Assignor
[Choose one: "Upon Counterparty's consent, Assignor is fully released from further obligations under the Original Contract." OR "Assignor remains secondarily liable if Assignee fails to perform."]
5. Representations
Assignor represents that the Original Contract is in good standing and that Assignor has the right to assign it.
6. Governing Law
This Agreement is governed by the laws of [State/Country].
Assignor: ______________________ Date: ____________ Assignee: ______________________ Date: ____________ [If required] Counterparty consent: ______________________ Date: ____________
*Check the original contract's own assignment clause first — many contracts explicitly require the other party's written consent before they can be assigned at all, regardless of what this document says.*
Edit directly in the box above. Download PDF anytime — the docstoc.io footer is always included and cannot be removed.
What's included
- Edit online — click the document, fill in placeholders, download a PDF
- 6 standard sections: 1. Assignment, 2. Assumption, 3. Consent of Counterparty, 4. Release of Assignor, 5. Representations, 6. Governing Law
- 6 clearly marked [placeholder] fields for quick personalizing
- Free to use — no account or signup required
- Fully editable — adjust any clause to match your actual situation
- Includes a signature block, ready to print or sign digitally
- Fixed docstoc.io footer on every PDF (not removable)
Who this template is for
Freelancers & solo founders
Handling routine business paperwork without commissioning custom legal drafting for every document.
Small businesses
Standardizing recurring documents — leases, agreements, notices — across a growing operation.
Anyone reviewing before signing
Using a clear starting structure to understand what a document should cover, even if a lawyer finalizes it.
Before involving a lawyer
A solid starting draft to review with counsel, or to use directly for a low-stakes situation.
FAQ
Is this assignment and assumption agreement template really free?
Yes — this Assignment and Assumption Agreement template on docstoc is free to view, edit online, and download as a PDF with no account or signup required.
What does this assignment and assumption agreement cover?
This legal template includes 1. Assignment, 2. Assumption, 3. Consent of Counterparty, 4. Release of Assignor. Fill in the [bracketed] placeholders, edit any clause online, then download a PDF — the docstoc.io footer stays on every export.
Is this legal advice?
No. This template reflects common practice, not your jurisdiction's specific requirements. Legal formalities (required language, witness or notarization rules, filing steps) differ by state and sometimes by county — confirm them with a licensed attorney before this document does any real work.
Can I edit the wording?
Yes. All 6 placeholder fields and every clause are editable right on the page — change what doesn't fit, then download an updated PDF anytime.
Where can I find more free templates like this?
Browse more free legal and related document templates in the docstoc library at /document-templates/.
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- Mutual Non-Disclosure Agreement (NDA)
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- General Power of Attorney
- One-Way (Unilateral) NDA
- Corporate Bylaws
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