Assignment of Security Deposit Template

This Assignment of Security Deposit is made on [Date] by and between:

Assignor: [Full Name / Company Name]
Address: [Address]

Assignee: [Full Name / Company Name]
Address: [Address]

1. Lease and Property Information

This Assignment relates to the following lease and rental property:

Tenant Name: [Full Name]
Lease Date: [Date]
Property Address: [Property Address]
Unit Number, if applicable: [Unit Number]

Additional lease reference details, if any:

[Insert details]

2. Security Deposit Information

The security deposit covered by this Assignment is:

Deposit Amount: [$Amount]
Date Originally Paid: [Date]
Held Under Lease For: [Tenant Name]

Additional deposit details, if any:

[Insert details]

3. Assignment

For value received, the Assignor assigns, transfers, and delivers to the Assignee all of the Assignor’s right, title, and interest in and to the security deposit identified above, together with any rights and obligations relating to that deposit under the lease and applicable law.

This Assignment applies only to the security deposit described in this document unless otherwise stated below.

4. Effective Date

This Assignment shall become effective on:

[Effective Date]

As of that date, the Assignee shall hold the assigned security deposit subject to the lease terms and applicable law.

5. Acceptance by Assignee

The Assignee accepts this Assignment and agrees to assume responsibility for the security deposit from the effective date forward to the extent required by the lease and applicable law.

The Assignee shall be responsible for handling the deposit as follows:

☐ holding the deposit under the lease
☐ applying the deposit only as permitted by law or lease terms
☐ returning the deposit when required
☐ providing any notices required by law
☐ other: [Describe]

6. Transfer of Funds

The security deposit shall be transferred from the Assignor to the Assignee as follows:

☐ full transfer of funds in the amount stated above
☐ transfer by credit at closing or settlement
☐ transfer by accounting adjustment
☐ other: [Describe]

Date funds were or will be transferred: [Date]

7. Representations of Assignor

The Assignor states that:

the Assignor currently holds or controls the security deposit described above;
the amount stated in this document is true and correct to the best of the Assignor’s knowledge;
the lease identified above is the lease to which the deposit relates;
except as disclosed below, the Assignor has not previously transferred or assigned this deposit to another party.

Disclosed exceptions, if any:

[Insert details or write “None”]

8. Records and Documents

The Assignor shall provide to the Assignee any records reasonably related to the deposit, including:

[copy of lease]
[deposit receipt]
[tenant ledger]
[inspection records]
[notices, if any]
[other related documents]

Additional document transfer terms, if any:

[Insert details]

9. Tenant Notice

Notice to the tenant regarding this Assignment shall be handled as follows:

☐ Assignor will notify tenant
☐ Assignee will notify tenant
☐ joint notice will be provided
☐ no separate notice unless required by law
☐ other: [Describe]

If notice is required, it shall include:

[new landlord or holder information]
[address for notices]
[instructions regarding future communications]
[other required details]

10. No Change to Lease Terms

Except for the assignment of the security deposit and related obligations described in this document, the lease remains unchanged unless separately amended in writing.

This Assignment does not modify rent, term, occupancy, or other lease terms unless expressly stated here:

[Insert details or write “None”]

11. Indemnity or Adjustment, if Any

The parties agree that any claim, shortage, overpayment, offset, or adjustment relating to the security deposit shall be handled as follows:

[Insert terms]

12. Governing Law

This Assignment shall be governed by the laws of the state of [State].

13. Entire Agreement

This Assignment contains the full understanding between the parties regarding the transfer of the security deposit described above and replaces prior discussions on that subject unless otherwise stated in writing.

14. Signatures

Assignor Signature: __________________________
Name: [Full Name]
Title: [Title, if applicable]
Date: [Date]

Assignee Signature: __________________________
Name: [Full Name]
Title: [Title, if applicable]
Date: [Date]

15. Tenant Acknowledgment, if Desired

Tenant Signature: __________________________
Name: [Full Name]
Date: [Date]

Tenant acknowledgment is:

☐ included for notice purposes only
☐ included to confirm awareness of new deposit holder
☐ not required
☐ other: [Describe]