A Lease Assignment Agreement is a legal document that transfers the rights of an existing lease from one party to another. It sets out the rules and regulations for the assignor and assignee, such as the assignment of rent payments, responsibility for repairs, and any other related conditions. This agreement ensures that all parties adhere to their responsibilities under the terms of the lease. With a Lease Assignment Agreement in place, both parties are protected and can move forward with confidence knowing that their rights and obligations have been clearly defined.