Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

assignment of lease

Read a random definition: work-furlough program

A quick definition of assignment of lease:

An assignment of lease is when someone transfers their lease agreement to another person. This means that the new person takes over the lease and becomes responsible for paying rent and following the terms of the lease. An assignment of property is when someone divides up their property in a fair way, usually during a divorce. An assignment of realty is just another way of saying assignment of lease. An assignment-of-rents clause is a part of a mortgage agreement that allows the lender to collect rent from the property if the borrower doesn't pay their mortgage.

A more thorough explanation:

An assignment of lease is when a tenant transfers their lease agreement to another person. This means that the new person takes over the lease and becomes responsible for paying rent and following the terms of the lease.

For example, if John is renting an apartment and he wants to move out before his lease is up, he can find someone else to take over his lease. This new person would sign an assignment of lease agreement with the landlord and become the new tenant.

Another example of an assignment of lease is when a business owner sells their business but the lease for the business space still has time left on it. The new owner of the business would need to take over the lease by signing an assignment of lease agreement with the landlord.

The assignment-of-rents clause is a provision in a mortgage agreement that allows the lender to collect rent from the mortgaged property if the borrower defaults on their mortgage payments. This means that if the borrower can't make their mortgage payments, the lender can step in and collect rent from any tenants in the property to help cover the mortgage payments.

assignment-of-income doctrine | assignment of rights

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
9:31
some people hate him. some people love him, but he a real one: https://youtu.be/w5oEqiVQcF4?t=173
9:32
[kevin oleary]
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
WorthlessAttractiveZombie
9:34
I mean if Fordham doesn't release today I will purposefully get on a train, go to new york, and then take the stinkiest shit inside the admission office's toilet (potentially clogging it and forcing them to get a plumber)
IS IT ONLY ON MY END WHY DID THAT SEND TEN MILLION TIMES
HELLO
WorthlessAttractiveZombie
9:35
it sent a million times lol
WHAT HAPPENED
yeah i thought you were tweaking for a second
i'm so sorry everyone what the actual fuck this website hates me
WorthlessAttractiveZombie
9:35
Jack's just tweaking on LSD no biggie
to be fair this accurately represents my mental state
election day psychosis coming in hot (fordham)
usc pls pull through .....
i literally just need one A so i can relax before my ED decision
WorthlessAttractiveZombie
9:38
oh that's right USC might release
soapy
9:43
USC still has not looked at my app
WorthlessAttractiveZombie
9:43
when did you submit soapy?
soapy
9:44
10/16
WorthlessAttractiveZombie
9:44
to be fair it took them almost 2 months for me to go under review
soapy
9:44
Feelin a bit stressed, as I've got no date change for Michigan either despite applying 10/7
WorthlessAttractiveZombie
9:45
I have not had a date change either for Mich but I've seen people get in without one so who knows
I applied 9/25 to like 6 schools and some (Houston) have no date change yet so dw
soapy
9:46
But do people get in without addresses going long?
WorthlessAttractiveZombie
9:46
it's tough to tell because a lot of people type out their addresses long to begin with
soapy
9:46
Ah. I didn't. Looking back, my Mich supplement kind of sucks, so there's that
LSD+ is ad-free, with DMs, discounts, case briefs & more.