Illinois Assignment of Lease by Landlord
Illinois landlords, assign your tenant's lease to a new owner of the property with this easy-to-use Assignment of Lease by Landlord form.
- The Assignment is between the current landlord, the purchaser of the property (new landlord) and the tenant.
- The current landlord assigns the lease to the new landlord, and the tenant covenants to pay rent to the new owner and continue to perform the tenant's obligations under the lease.
- The current landlord and the purchaser agree to indemnify each other against any claims or actions arising out of any breach of the terms of the assignment.
- This form can be used for either commercial or residential rental properties.
The Illinois Assignment of Lease by Landlord form
is downloadable and fully editable.