Assignment and Assumption of Service Contracts, Leasing Commission Agreements, and Licenses And Permits
(TX)

Summary

This assignment and assumption of service contracts, leasing commission agreements, and licenses and permits template allows an assignor to transfer to an assignee all the assignor's rights, title, and interest in and to the service contracts, leasing commission agreements, licenses, and permits in connection with a sale of real property in the state of Texas. This template includes practical guidance, drafting notes, and alternate clauses. This is a standard template used in commercial real estate transactions in Texas, often attached as an exhibit to the purchase and sale agreement. This particular template can be used for the sale of a multi-tenant office building. For a full listing of key content covering purchasing and selling commercial real estate, see Purchasing and Selling Commercial Real Estate Resource Kit. For additional guidance on purchasing and selling commercial real property in Texas, see Purchasing and Selling Commercial Real Estate Resource Kit (TX).