Assignment Of Proprietary Lease Form

• Category: Corporations - Cooperatives
• State: Multi-State
• Control #: US-03491BG
• Format: Word; Rich Text

Description

The Assignment of Proprietary Lease form is a legal document that facilitates the transfer of the lessee's rights and obligations under a proprietary lease from one party (the Assignor) to another (the Assignee). This form is particularly useful for parties involved in cooperative housing arrangements, where ownership and leasing rights can be complex. The form requires specific details such as the names and addresses of the Assignee and Assignor, the original lease date, and the corporation governing the lease. Additionally, it mandates the Assignee to assume all terms of the original lease, ensuring legal continuity and accountability. Filling out the form involves obtaining the necessary approvals from the corporation and having all signatures notarized, which emphasizes the form's legal importance. This form serves various target audiences, including attorneys who assist clients in real estate transactions, partners and owners in managing their properties, associates who might handle paperwork, and paralegals and legal assistants who prepare and file such documents. The clear instructions within the form are designed to make the process straightforward, even for individuals with limited legal experience.