Lease Assignment Agreement

A person, company or entity who transfers rights they hold to another entity. The assignor transfers to the assignee. For example, a party (the assignor) that enters into a contract to sell a piece of property can assign the proceeds, or benefits of the contract, to a third party (the assignee).

The assignee is the person who receives the Lease interest from the original tenant (the assignor), and who becomes the new tenant.