How does assuming or transferring a lease work?
The lease assignment process have the same approach for monst landlords, but each has their own approach. The individual wishing to take over the lease submits a lease application to the landlord. The landlord will make a decision on the credit worthiness of the applicant, history as a tenant and operator. If approved, lease transfer documents are prepared by the landlord and signed by the original tenant and assuming lessees. The transfer is complete when the signed documents are returned to the landlord and processed. There are variations in the fees and details for each landlord. The iLeaseSwap Team recommends that you seek advise from an attorney regarding an specific questions regarding your lease.
