Wake North Carolina Agreement by Lessor to Assign Lease Agreement

• Category: Leases - Assignments
• State: Multi-State
• County: Wake
• Control #: US-02408BG
• Format: Word; PDF; Rich Text

Description

An assignment is a transfer of rights that a party has under a contract to another person, called an assignee. The assigning party is called the assignor. An assignee of a contract may generally sue directly on the contract rather than suing in the name of the assignor. A valid assignment takes effect the moment it is made regardless of whether notice of the assignment is given to the other party to the contract. If the obligor is notified that there has been an assignment and that any money due must be paid to the assignee, the obligor's obligation can only be discharged by making payment to the assignee. In other words, payment to the assignor would not satisfy the contract after notice. If the obligor does not know of the assignment and makes payments to the assignor who does not turn the money over to the assignee, the assignee cannot sue the obligor, but does have a remedy against the assignor. The Wake North Carolina Agreement by Lessor to Assign Lease Agreement is a legal document that outlines the terms and conditions related to the assignment of a lease agreement in Wake County, North Carolina. This agreement is entered into by the lessor, who is the current owner of the leased property, and the assignee, who is the party to whom the lease is being assigned. Keywords: Wake North Carolina Agreement, Lessor, Assign Lease Agreement, Wake County, North Carolina, legal document, terms and conditions, assignment, leased property, assignee. There are different types of Wake North Carolina Agreements by Lessor to Assign Lease Agreements depending on various factors such as the duration of the lease, the type of property being leased, and specific provisions included in the agreement. Some common types include: 1. Residential Assignment Agreement: This type of agreement is used when the leased property is a residential unit, such as an apartment or house. It covers aspects such as rent payment, maintenance responsibilities, and any restrictions or obligations imposed on the assignee. 2. Commercial Assignment Agreement: When the leased property is a commercial space, such as an office or retail store, a commercial assignment agreement is used. It typically includes provisions related to business operations, lease duration, renewal options, and any alterations or improvements to be made by the assignee. 3. Sublease Agreement: In some cases, the lessor may allow the lessee to sublease the property to another party. A sublease agreement under the Wake North Carolina Agreement by Lessor to Assign Lease Agreement is used in such situations. It establishes the rights and obligations of the sublessor (original lessee) and the sublessee (new occupant of the property). 4. Assignment of Lease Agreement with Landlord's Consent: In instances where the original lease agreement requires the landlord's explicit consent for assignment, this specific type of agreement is executed. It ensures that the lessor approves the transfer of the lease to the assignee and records the respective parties' consent. 5. Assignment of Lease Agreement without Landlord's Consent: There may be cases where the lease agreement allows the lessee to assign the lease without obtaining the landlord's consent. In such situations, an assignment agreement can be used to record the transfer of rights and obligations between the lessor and the assignee. In conclusion, the Wake North Carolina Agreement by Lessor to Assign Lease Agreement is a legally binding document that sets out the terms and conditions for the assignment of lease agreements in Wake County, North Carolina. Various types of agreements can be formed based on the specific circumstances, such as residential or commercial assignments, subleasing, and the need for the landlord's consent.

The Wake North Carolina Agreement by Lessor to Assign Lease Agreement is a legal document that outlines the terms and conditions related to the assignment of a lease agreement in Wake County, North Carolina. This agreement is entered into by the lessor, who is the current owner of the leased property, and the assignee, who is the party to whom the lease is being assigned. Keywords: Wake North Carolina Agreement, Lessor, Assign Lease Agreement, Wake County, North Carolina, legal document, terms and conditions, assignment, leased property, assignee. There are different types of Wake North Carolina Agreements by Lessor to Assign Lease Agreements depending on various factors such as the duration of the lease, the type of property being leased, and specific provisions included in the agreement. Some common types include: 1. Residential Assignment Agreement: This type of agreement is used when the leased property is a residential unit, such as an apartment or house. It covers aspects such as rent payment, maintenance responsibilities, and any restrictions or obligations imposed on the assignee. 2. Commercial Assignment Agreement: When the leased property is a commercial space, such as an office or retail store, a commercial assignment agreement is used. It typically includes provisions related to business operations, lease duration, renewal options, and any alterations or improvements to be made by the assignee. 3. Sublease Agreement: In some cases, the lessor may allow the lessee to sublease the property to another party. A sublease agreement under the Wake North Carolina Agreement by Lessor to Assign Lease Agreement is used in such situations. It establishes the rights and obligations of the sublessor (original lessee) and the sublessee (new occupant of the property). 4. Assignment of Lease Agreement with Landlord's Consent: In instances where the original lease agreement requires the landlord's explicit consent for assignment, this specific type of agreement is executed. It ensures that the lessor approves the transfer of the lease to the assignee and records the respective parties' consent. 5. Assignment of Lease Agreement without Landlord's Consent: There may be cases where the lease agreement allows the lessee to assign the lease without obtaining the landlord's consent. In such situations, an assignment agreement can be used to record the transfer of rights and obligations between the lessor and the assignee. In conclusion, the Wake North Carolina Agreement by Lessor to Assign Lease Agreement is a legally binding document that sets out the terms and conditions for the assignment of lease agreements in Wake County, North Carolina. Various types of agreements can be formed based on the specific circumstances, such as residential or commercial assignments, subleasing, and the need for the landlord's consent.