Illinois Assignment of Lease by Landlord

Illinois landlords, if you have sold a rental property and are assigning an existing lease to the new owner, prepare an Assignment of Lease by Landlord with this easy-to-use template form.

• The Assignment is between the seller (current landlord or "assignor"), the purchaser of the property (new landlord or "assignee"), and the tenant.
• The tenant covenants to pay rent to the new landlord 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 Illinois Assignment of Lease by Landlord form is available as a MS Word download, and can be used for both commercial and residential rental properties.