Assignment of Commercial Lease

Assignor (Original Tenant): [Name] · Assignee (New Tenant): [Name] Landlord: [Name] · Property: [Address, suite/unit] · Original Lease Date: [Date] · Assignment Date: [Date]

1. Assignment

Assignor transfers and assigns to Assignee all of Assignor's rights and obligations under the commercial lease referenced above, for the remainder of its term.

2. Landlord's Consent

This assignment is effective only upon Landlord's written consent below, as required under most commercial leases.

3. Assignee's Assumption

Assignee assumes all of Assignor's obligations under the original lease, including rent, permitted use restrictions, and maintenance obligations, effective as of the assignment date.

4. Continuing Liability

[ ] Assignor is fully released from further liability under the lease upon Landlord's consent. [ ] Assignor remains secondarily liable (a guarantor of Assignee's performance) unless Landlord agrees otherwise in writing — the more common outcome for commercial assignments.

5. Security Deposit

[State how the existing security deposit is handled — transferred to Assignee's credit, or returned to Assignor with a new deposit collected from Assignee.]

6. Business Use

Assignee will operate [Business type], consistent with the permitted use clause in the original lease, or as separately approved by Landlord.

Assignor: ______________________ Date: ____________ Assignee: ______________________ Date: ____________ Landlord (consent): ______________________ Date: ____________

*This document is provided for informational and educational purposes only and does not constitute legal advice. Most commercial leases require the landlord's consent for assignment and often state the landlord "may not unreasonably withhold" it — but what counts as reasonable is frequently litigated, so a tenant planning to assign a lease should review the exact consent standard in their specific lease before assuming approval is automatic.*