LEASE ASSUMPTION

LEASE ASSUMPTION

This agreement is entered into on {date} between {Landlord} (hereafter referred to as “Landlord,”) {Tenant} (hereafter referred to as “Tenant,”) and {Assignee} (hereafter referred to as “Assignee,”) concerning the lease at the property at {Address} and described below:

Tenant’s current lease began {date} and extends to {date} at midnight. Tenant currently pays {$} a month and has laid down a security deposit of {$}.

Landlord has consented to the assumption of the lease by the Assignee, provided that the Tenant maintains joint liability with Assignee. Tenant will be released from the lease, but will be held liable in the event that the Assignee fails to meet contractual obligations.

Assignee will assume all rental, title and interest rights, obligations and payments. All provisions, amendments and agreements made with Tenant shall be transferred to Assignee.

LANDLORD ___________________________      DATE ________________

TENANT ______________________________       DATE ________________

ASSIGNEE ____________________________       DATE ________________

WITNESS _____________________________        DATE ________________

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