Set Title Lease For Free

The difference between assignment and transfer is that assign means it's legal to transfer property or a legal right from one person to another, while transfer means it's legal to arrange for something to be controlled by or officially belong to another person.

An assignment of a lease involves the new tenant (commonly referred to as the assignee) agreeing to take on all of the existing tenant's (commonly referred to as the assignor) lease obligations. The transfer of the interest is for the remaining duration of the lease.

In short, once a person, corporation or charge (such as a lease) is registered on title, it has legal standing. That goes for whatever makes it onto the registered title, including leases, sub-leases, mortgages, easements, rights- of-way and more.

A tenant can make a written request at any time to assign their tenancy to someone else. The request should include the contact details of the person being proposed to take over the tenancy. Alternatively, the landlord can find a replacement tenant, although they don't have to do this if they don't want to.

The new tenant, called the assignee, will be required to pay the same rent that the original tenant was paying, and the terms of the original lease will apply. If a tenant wants to assign a lease, he or she is first required to make a written request for the landlord's approval.

Non-Assignable Leases means those Leases which require the consent of the lessor for the assignment or sublease from Seller to Buyer and with respect to which such consent from either has not been obtained prior to the Closing.

Once the landlord's consent has been obtained, the tenant and assignee can enter into a deed of assignment to transfer the lease to the assignee. If the lease is registered at the Land Registry the assignee will then need to register the assignment at the Land Registry.

As a tenant can never be sure when a landlord may sell or mortgage the reversion and may not have an opportunity to provide all future purchasers and mortgagees with actual notice of the existence of the tenancy, registration provides the requisite notice to the world and guarantees priority.