Use this lease assumption agreement template to create a document that allows you to transfer your lease to someone else legally and easily. An assignment and assumption of lease is a legal real estate document that allows one party to transfer rights and obligations of a lease to another party.Please use the form below to ask any question. We will attempt to answer as quickly as possible. THIS LEASE AGREEMENT (called the "Lease") is between the ______ Housing Authority (called "PHA") and the Tenant named in the Contract (called "Tenant"). This Lease Contract is valid only if filled out before January 1, 2020. Your Initials: _ ______ Initials of Our Representative: ______. A Texas lease agreement is a written contract explaining the inner workings of a rental transaction involving a piece of real estate.