Lease assignment agreement (NY)
Legal advice recommended before use.
Assigning a lease is different from subletting: instead of you remaining responsible while someone else lives there temporarily, you transfer your entire tenancy to a new tenant, who steps fully into your place. Like subletting, this generally requires your landlord's written consent, which — in buildings covered by New York Real Property Law § 226-b — they can't unreasonably withhold, following a request process similar to a sublet request.
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Whether the original tenant is released from liability is the single most important term in a lease assignment — do not sign without a clear, written answer to that question. This is a template, not legal advice. This document was drafted without live legal-citation verification (research budget was exhausted) and has not yet been reviewed by an attorney — do not rely on it as final.
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Frequently asked questions
What's the difference between assigning a lease and subletting?
Subletting is temporary — you remain the tenant of record and generally stay responsible to the landlord, with your subtenant answering to you. Assigning transfers the entire tenancy to the new tenant, who becomes directly responsible to the landlord going forward, in your place.
Do I need my landlord's consent to assign my lease?
Generally yes. In buildings covered by RPL § 226-b, your landlord can't unreasonably withhold consent, following a request process similar to a sublet request — but the consent still has to be given in writing, and this agreement documents it.
Am I still responsible for rent after I assign my lease?
It depends entirely on whether the landlord agrees to release you. Some landlords will fully release the original tenant; others keep the original tenant secondarily liable if the new tenant defaults. This is a negotiated, material term — don't assume you're released unless the landlord confirms it in writing, as this agreement requires you to specify.
What happens to my security deposit?
That's also negotiable: your original deposit can be returned to you (with the new tenant posting their own), or it can transfer to cover the new tenant's tenancy by agreement — in which case you and the new tenant should separately settle any reimbursement between yourselves.
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