What is an assignment? - LegalVision

Question: What is an assignment?

Answer:

An assignment of a lease is simply the transferral of the existing tenant (the assignor)’s property interest (the lease) to a new tenant (the assignee).

This might happen when the existing tenant wishes to leave the property and terminate his lease before the date originally specified in the lease agreement. The landlord’s consent must be obtained before completing an assignment. The assignor may still be liable under the original lease agreement unless expressly released from liability by the landlord.

Answered by Emma Jervis

Emma is an experienced franchise lawyer and litigator who has successfully helped many clients achieve commercial and workable solutions to their legal problems. With over 10 years legal experience, Emma has run many cases in all tiers of the NSW Court system and Family Court of Australia, as well as having many years experience in advising clients of their legal rights in both the commercial and family law spheres. Emma is also experienced in drafting a range of documents, including franchise documents and complex commercial contracts.

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