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Simple English definitions for legal terms

assignment of lease

Read a random definition: claim-of-right doctrine

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

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General

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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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