Drafting assignment and assumption of leases agreements manually requires reviewing multiple lease documents, coordinating details from purchase agreements, and ensuring proper indemnification language—a process that typically takes 2-3 hours per transaction. Attorneys must carefully track security deposits, rents, and landlord obligations while avoiding errors that could create liability exposure. The repetitive nature of these documents makes manual drafting inefficient and prone to inconsistencies.
Drafting Assignment and Assumption of Leases agreements for commercial real estate transactions is time-intensive and detail-critical. Attorneys must extract information from multiple documents, ensure consistency with purchase agreements, properly allocate pre- and post-closing obligations, and comply with state-specific requirements—a process that typically takes 3-4 hours per transaction.
CaseMark automates the entire drafting process by intelligently extracting transaction details from your purchase agreement and lease schedules, then generating a comprehensive, attorney-ready Assignment and Assumption of Leases agreement. The platform ensures proper indemnification provisions, security deposit transfers, and compliance with your jurisdiction's requirements in minutes instead of hours.
This workflow is applicable across multiple practice areas and use cases
Asset purchase agreements routinely include commercial real estate with tenant leases that require formal assignment and assumption documentation at closing.
The workflow directly supports asset purchase transactions by generating the necessary lease assignment documents referenced in purchase agreements, ensuring proper transfer of landlord rights and obligations.
M&A transactions involving companies with commercial real estate holdings require assignment and assumption of leases as part of asset transfers during acquisitions.
Portfolio acquisitions and asset purchases frequently include commercial properties with existing leases that must be properly assigned to the acquiring entity with appropriate indemnification provisions.
Corporate restructurings, spin-offs, and entity reorganizations often involve transferring commercial property leases between related entities or successor corporations.
Corporate counsel managing internal reorganizations need to document lease transfers between entities while maintaining proper indemnification and ensuring continuity of lease obligations.
Bankruptcy asset sales and Section 363 sales require assignment and assumption of valuable commercial leases as part of the debtor's asset disposition.
Bankruptcy practitioners need to prepare lease assignment documents when selling commercial properties as part of estate liquidation or reorganization plans, ensuring proper assumption by purchasers.
At minimum, you need the purchase and sale agreement and a lease schedule or rent roll. CaseMark will extract the essential transaction details, party information, closing date, and lease specifics from these documents. For enhanced accuracy, you can also upload individual tenant leases, estoppel certificates, and the property legal description, which the system will analyze to ensure completeness and identify any assignment restrictions.
CaseMark automatically generates provisions addressing security deposit transfers based on the amounts listed in your lease schedule or rent roll. The system creates language requiring the assignee to assume liability for deposit returns and releasing the assignor from further obligations. Rent proration provisions are included that allocate pre-closing rents to the assignor and post-closing rents to the assignee, with references to your closing statement for specific calculations.
Yes. CaseMark identifies the property location from your documents and applies the appropriate governing law provisions. The system incorporates state-specific requirements for security deposits, landlord assignment obligations, and tenant notice requirements where applicable. However, as with all AI-generated documents, attorney review is recommended to ensure compliance with the latest statutory requirements and case law in your jurisdiction.
When you upload individual tenant leases, CaseMark analyzes them for assignment restrictions, consent requirements, and other provisions that may be triggered by ownership changes such as co-tenancy clauses or exclusive use rights. The system will flag these issues in the output and can suggest appropriate carve-outs or special provisions. If only a lease schedule is provided, the system will include standard language but recommend review of individual leases for restrictions.
CaseMark ensures the Assignment and Assumption of Leases aligns with your purchase agreement by extracting and incorporating consistent terms, dates, and party information. The system includes provisions stating that the assignment is subject to the purchase agreement and that any conflicts are resolved in favor of the purchase agreement. The effective date is synchronized with your closing date to maintain consistency across all transaction documents including the deed, bill of sale, and closing statement.