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The Assignment of Tenancy is a legal process that allows a tenant to transfer their tenancy rights and responsibilities to another individual. This process is particularly useful in various situations, such as when a tenant needs to leave a property before the end of their tenancy agreement.
There are several scenarios where an Assignment of Tenancy may be appropriate, for example, where a tenant must move out before the end of the tenancy they can assign their tenancy to someone else, ensuring it continues without disruption. Also, in a shared tenancy, one tenant may wish to leave while the others prefer to remain. An assignment allows the departing tenant to transfer their interest in the property to a new tenant.
Assigning a tenancy is not merely a casual agreement it involves several key steps:
Both the outgoing and incoming tenants should carefully consider the implications of an assignment:
This Assignment of Tenancy is in Microsoft Word format, written in plain English, easy to use and edit. It is a valuable option for tenants who need to exit a tenancy agreement before the end of the term.
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