Have you ever wondered if it was possible for someone to take over a contractual agreement for you? Perhaps a successor or protege is to step into your shoes, or you are entering into a business partnership where you feel the rights and obligations would be better handled by the other party. Perhaps you just want to get out of a loan you have no way of paying, and someone offers to take on the burden for you. Instead of voiding your contract (which might be a legal breach and cause trouble) and having the person or entity sign a new contract, you can use an assignment agreement contract.
Assignment agreements will shift all your rights and obligations to the third party, your saving grace. These Agreement Templates will show you how and when this can be done.
Lease Assignment Agreement Template
Tenant Assignment Agreement Template
Free Assignment Agreement Template
Patent Assignment Agreement Sample
Software Assignment Agreement Sample
What Can You Assign?
What kinds of contractual relationships and obligations can you (the assignor) transfer to someone else (the assignee)? Quite a lot, actually. Here are just some sample contracts to show you the possible scenarios.
One most common scenario is for getting out of debts:
- You can shift all obligations of a debt you owe over to someone you trust, who is more capable to pay it off. This is done using some form of the Debt Assignment Agreement Template.
- Similar to the debt assignment is the Assumption Assignment Agreement, which is another way to get out of your mortgage by having a third party assume the obligation of loan repayment.
There are also times you will need to transfer intellectual property rights. This happens during company mergers and amalgamations, for instance. Some contracts to accomplish this role shift:
- Patent Assignment Agreement Sample allows the inventor to hand over the intellectual property rights of the invention to another individual or entity.
- This is similar to the Copyright Assignment Agreement Sample.
- Software Assignment Agreement Sample is another example where developers of proprietary software can then transfer all intellectual property rights.
Lease rights and rental obligations of physical property can also be assigned. (Although if you want to quickly transfer real estate to someone in your family, a quitclaim deed is the way to do it.)
- See Tenant Assignment Agreement Template and Lease Assignment Agreement Template for straightforward examples.
- See Equipment Assignment Agreement Template to temporarily assign the responsibilities of equipment to a subordinate, for example.
Perhaps you want to want to establish a supplier-distributor relationship with someone else who will be reselling your product. In this case, you will need a Distribution Agreement.
Similarly, if you just want to give someone the right to use property you own, while you keep your ownership rights, use a Lease Agreement.
If you’re lending money, use a Loan Agreement.
Copyright Assignment Agreement Sample
Debt Assignment Agreement Template
Assumption Assignment Agreement Template
Contract Assignment Agreement
Equipment Assignment Agreement Template
What to Do with These Templates
You can download these free PDF documents as reference material. They will serve to inform you of your options down the road if you find yourself ever needing to transfer any obligations as we’ve discussed.
Here’s a bonus template for a converse scenario: If you’re an employer and wish to take away rights and obligations of an employee you are terminating, use a Settlement Agreement.
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by and between
E. I. DU PONT DE NEMOURS AND COMPANY
THE CHEMOURS COMPANY
Dated as of June 26, 2015
TABLE OF CONTENTS
DEFINITIONS AND INTERPRETATION
CERTAIN ACTIONS AT OR PRIOR TO THE DISTRIBUTIONS
PRESERVATION OF RECORDS; ACCESS TO INFORMATION; CONFIDENTIALITY; PRIVILEGE
Index of Defined Terms
Restructuring: Transfer of Assets; Assumption of Liabilities
Treatment of Shared Contracts
Intercompany Accounts, Loans and Agreements
Limitation of Liability; Intercompany Contracts
Transfers Not Effected at or Prior to the Effective Time;
Transfers Deemed Effective as of the Effective Time
Conveyancing and Assumption Instruments
Further Assurances; Ancillary Agreements
Novation of Liabilities; Indemnification
Guarantees; Credit Support Instruments
Disclaimer of Representations and Warranties
Chemours Financing Arrangements
Cash Management; Cash Adjustment
Resignations and Removals
Stock Dividend to DuPont Stockholders; Distribution
Actions in Connection with the Distribution
Sole Discretion of DuPont
Conditions to Distribution
CFATS Plan Compliance
Release of Pre-Distribution Claims
Indemnification by DuPont
Indemnification by Chemours
Procedures for Indemnification
Cooperation in Defense and Settlement
Indemnification Obligations Net of Insurance Proceeds and Other Amounts
Additional Matters; Survival of Indemnities
Preservation of Corporate Records
Financial Statements and Accounting
Provision of Corporate Records
Reimbursement; Other Matters
Ownership of Information
Certain Matters Relating to DuPont’s Organizational Documents
Directors and Officers Liability Insurance
List of Exhibits
Employee Matters Agreement
Tax Matters Agreement
Transition Services Agreements
IP Assignment Agreements
IP Cross License
IT Asset License
Off-Site Storage Cost Sharing Agreement
Form of Dupont GCAP Statement