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Simple English definitions for legal terms

assignment of lease

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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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18:19
@BulbasaurNoLikeCardio: what you gonna do when january hits and they are like "it still isnt here come back in april"
BulbasaurNoLikeCardio
18:20
Its a $600 part, they already covering shipping and paying the tax so $140 is an additional 25% off.
BulbasaurNoLikeCardio
18:20
If it doesn't come January I am going to just say fuck it and toss everything on the right handed upper and just eat gas.
18:21
You should have said to refund you or give 300 off
18:21
wasp is wasp
18:21
knows how be rich and demand shit lmfao
i am atheist not protestant
18:22
same thing tho ya? - catholic
BulbasaurNoLikeCardio
18:23
Ill just keep arguing for more money off until I get it or they end up paying me to take it lmao
18:24
what other guns ya got
are we losing hope for gtown lol
yeah i dont think gtown does A's this late unfortunately
18:25
it is like 630 on a friday there bud
18:25
think it is safe to say it aint happenin today\
damn it was a slow day today
BulbasaurNoLikeCardio
18:26
I got a custom built Leftie ar15 I run suppressed, a regular ar15, a .270 axis savage bolt gun, xd9, xd40 and have my AR10 I run suppressed.
BulbasaurNoLikeCardio
18:26
I do not think we will see a wave until after thanksgiving. Adcoms will be nice and not ruin someones thanksgiving with an R
18:28
ruin my thanksgiving law schools uwu
PerpetualCheerfulBeaver
18:53
I really thought a texas schools wave was going to hit today...guess it will be December 1
7Rings
19:00
No news is good news 😜
PerpetualCheerfulBeaver
19:10
the mentality im embracing
ClassyPleasantHeron
19:23
You will see some A waves next week, just before Thanksgiving. Schools like to give people things to talk about over the holidays.
19:26
my predict monday berk from earlier td
snow
19:33
Oregon decision rendered…
snow
19:33
Bro why don’t they just tell me lol
damn ive been under review for a month and no movement, when did u apply snow?
snow
19:39
The day apps opened. I still don’t know what the decision is tho lol
Dang. Crossing my fingers for you!!
snow
19:41
Thank you!!
shaquilleoatmeal
19:44
Snow dude wtf you been
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