assignment of lease

Definition of "assignment of lease"
  1. The process where a tenant transfers their remaining entitlements of a rented property as stated in a lease agreement
How to use "assignment of lease" in a sentence
  1. The tenant, due to unexpected circumstances, had to proceed with the assignment of lease to another party.
  2. In a scenario where the business owner has to relocate, an assignment of lease can be an option to transfer the rental rights to another entity.
  3. The new lessee acquired the property through an assignment of lease from the original tenant.

Provide Feedback
Browse Our Legal Dictionary
# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z