Assignment of Lease by Landlord (Ontario)

Ontario landlords, if you have sold a rental property and are assigning an existing lease to the new owner, use this ready-made template to prepare an Assignment of Lease by Landlord. The Assignment is between the seller (current landlord or "assignor"), the purchaser of the property (new landlord or "assignee"), and the tenant, who covenants to pay rent to the new owner and continue to perform the tenant's obligations under the lease. The assignor and assignee agree to indemnify each other against any claims or actions arising out of any breach of the terms of the assignment. This Ontario Assignment of Lease by Landlord is provided in MS Word format, and can be used for both commercial and residential rental properties.