assignment of lease


assignment of lease
Such occurs where lessee transfers entire unexpired remainder of term created by lease as distinguished from sublease which transfers only part of remainder. Dayenian v. American Nat. Bank and Trust Co. of Chicago, 91 Ill.App.3d 622, 47 Ill.Dec. 83, 85, 414 N.E.2d 1199, 1201.

Black's law dictionary. . 1990.

Look at other dictionaries:

  • assignment of lease — see assignment Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • assignment of lease — The transfer of a lease by the tenant (assignor) to some other person (assignee). Leases are freely transferable at common law although it is common practice to restrict assignment by conditions ( covenants) in the lease. An assignment that takes …   Accounting dictionary

  • assignment of lease — The transfer of a lease by the tenant (assignor) to some other person (assignee). Leases are freely transferable at common law although it is common practice to restrict assignment by conditions (covenants) in the lease. An assignment that takes… …   Big dictionary of business and management

  • assignment of lease — A transaction whereby a lessee transfers his entire interest in the demised premises or a part thereof for the unexpired term of the original lease. 32 Am J1st L & T § 313. A lease by the lessee of the whole of his unexpired term. Bedford v… …   Ballentine's law dictionary

  • assignment of lease and rentals — A document used in real estate loans when the mortgaged property is leased to third party tenants. If the borrower defaults, the assignment of lease and rentals gives the lender the right to receive rents from the tenants and to transfer the… …   Financial and business terms

  • assignment — as·sign·ment n 1: the act of assigning 2 a: a position, post, or office to which one is assigned b: a task assigned 3: a present transfer of property or rights absolute assignment: an assignment in which the transfer is complete and leaves the… …   Law dictionary

  • lease — 1 / lēs/ n [Anglo French les, from lesser to grant by lease, from Old French laisser to let go, from Latin laxare to loosen, from laxus slack] 1 a: a contract by which an owner of property conveys exclusive possession, control, use, or enjoyment… …   Law dictionary

  • assignment — 1) The act of transferring, or a document (a deed of assignment) transferring, property to some other person. Examples of assignment include the transfer of rights under a contract or benefits under a trust to another person. See also: assignment …   Accounting dictionary

  • assignment — The act of transferring, or a document (a deed of assignment) transferring, property to some other person. Examples of assignment include the transfer of rights under a contract or benefits under a trust to another person. See also assignment of… …   Big dictionary of business and management

  • lease assignment — When a tenant assigns a lease he usually needs to obtain the landlord s prior written consent or licence to so. The landlord is likely to ask for references, accounts and so forth, to establish whether the assignee will be a good and creditworthy …   Law dictionary


Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.