Assignment and Assumption of Lease Agreement
(Commercial Lease) (MN)

Summary

This assignment and assumption of lease agreement template transfers a tenant's interest under a Minnesota commercial lease to a third party. This template includes practical guidance, drafting notes, and alternate and optional clauses. This template presumes that the tenant is assigning all of its rights and obligations under the lease for the remainder of the lease term. If the tenant/assignor will be assigning less than all of its interest under the lease, a sublease should be used as opposed to an assignment. For of sublease agreement template, see Sublease Agreement. Prior to assigning its lease, the tenant should confirm that no landlord consent is required or, if it is required, that it has already obtained the same in writing. For a full listing of key content regarding foreclosures and eviction resources, generally, see Foreclosure and Eviction Resources. For more information on assignment and assumption of leases, see Lease Assignments. For information on commercial leasing in Minnesota, see Commercial Real Estate Leasing (MN).