A lease assignment benefits a relocating tenant wanting to end a lease early or a landlord looking for rent payments to pay creditors. Once the new tenant signs the lease taking over responsibility for rent payments and other obligations, the previous tenant is released from those responsibilities. In a separate lease assignment, a landlord agrees to pay a creditor through assignment of rent due under rental property leases. The agreement is used to pay a mortgage lender if the landlord defaults on the loan or files bankruptcy . Any rental income is paid directly to the lender.