Take Over a Lease - ReLease Market

Welcome to ReLease Market, the best place to take over a Lease. We make it easy for Lessees who want out of a Lease to connect with businesses who want to take over a Lease.

What is a Lease Takeover?

A Lease Takeover (also referred to a “Lease Assumption” or a “Lease Assignment”) is when a Lessee under an Equipment Lease assigns its interests under the Lease, including its right to use the Equipment, to a third party who takes over the Lessee’s position and assumes its rights and obligations relating to the Lease and the Equipment.

Benefits of Taking Over a Lease

Take advantage of a shorter Lease term
The Transferee might have already built up equity in the Equipment
Avoid upfront administrative fees
Lower total costs of ownership for the same used Equipment because you are not paying commissions to used equipment dealers
Transferor may provide an incentive to facilitate the Transfer
The Equipment has been in use, so you know that it works properly

The Lease Transfer Process

There is no charge to Transferees to use our website
Browse the Lease Transfer Listings. You can search on a number of key variables, and then filter your search results to hone in on the Equipment and Lease that best suit your purposes
If you see something you like, register as an Interested Transferee
Contact the Transferor through ReLease Market messaging. You will not see the Transferor’s contact info and the Transferor will not see yours. ReLease Market messages will be sent to the Transferor’s email account and you will receive messages to the email account you provided in your registration. Messages will also be archived in your Account Management section. You are free to exchange contact information directly if you choose.
You negotiate the terms of the Transfer
Our Lease Transfer Experts are on standby to help Transferors and Transferees negotiate fair terms for Lease Transfers. Contact us now.
The Transferor contacts its Equipment Lessor to process the Lease Transfer. You will be asked to provide information for the Lessor to consider your credit. This information might include: legal name of your company, financial statements, your personal information, credit references, etc. (For details of the Lease Transfer process, please click here)
The Lessor approves the Transfer and gives you the necessary paperwork
Because leasing companies have specific lending appetites, your credit profile might not fit the Lessor’s box, and the Transfer might not get approved. If that happens with your Transfer, please contact one of our Lease Transfer Experts for help. The ReLease Market team is made up of leasing industry veterans. We partner with leading leasing companies who are on standby to buyout Leases and Lease the Equipment to most Transferees. We might need to change the terms of the Lease slightly to accommodate the Transfer – e.g. longer Lease term, slightly higher Rent, etc.
You sign the Lessor’s Transfer documentation and take over the Lease. Depending on the terms of the Transfer, the Transferor might need to sign as well.
You take control of the Equipment and arrange for its delivery to your premises.
We have relationships with qualified Equipment movers and reTransferors across the country. Let us know is you would like us to arrange for your Equipment to be delivered.

Browse Listings

Search for:
Transferee Zip Code	Enter your zip code. This allows you to rank your search results by proximity.
Equipment Category	Choose the broad category of equipment that you are interested in
Equipment Type	Choose the type of Equipment. (please note, if you selected ‘All’ for Equipment Category, you will have a lot of Equipment Types from which to choose.)
Manufacturer	Choose the manufacturer
Model	Choose the Model if you have a preference
Year of Manufacture
Keyword Search for Features	Input any keywords if you are looking for special features

Filter by:
Zip Code	Within _____ miles.
Months Remaining in Lease Term	e.g. 'Low to High' or 'High to Low'
Purchase Option Type	e.g. Purchase for Fixed/Stated Amount, Purchase for Fair Market Value, Return the Equipment or Other
Purchase Option Amount
Monthly Rent Amount
Lessor

Register as an Interested Transferee

Transferee Information
Transferee Name	The proper legal name of your business. This information is for our purposes. We will not disclose it to Transferors without your prior consent.
Transferee Contact Name	The name of the person in your organization who is authorized to deal with the Lease Transfer. This information is for our purposes. We will not disclose it to Transferors without your prior consent.
Transferee Contact Phone #	The phone number where we can reach you. This information is for our purposes. We will not disclose it to Transferors without your prior consent.
Transferee Contact Email	The email address where we can reach you. This information is for our purposes. We will not disclose it to Transferors without your prior consent.
Transferee Zip Code	Enter your zip code. This allows you to rank your search results by proximity.

Searching for:
Equipment Category	Choose the broad category of equipment that you are interested in
Equipment Type	Choose the type of Equipment. (Please note, if you selected ‘All’ for Equipment Category, you will have a lot of Equipment Types from which to choose.)
Manufacturer	Choose the manufacturer
Model	Choose the Model if you have a preference
Year of Manufacture
Keyword Search for Features	Input any keywords if you are looking for special features
Months Remaining in Lease Term
Purchase Option Type	e.g. Purchase for Fixed/Stated Amount, Purchase for Fair Market Value, Return the Equipment, Other
Purchase Option Amount
Monthly Rent Amount

Contact a Transferor
Listing #	Input the Listing #
Message	Type your message. You are allowed up to 1000 characters.

Tips for Finding and Taking Over a Lease

The “Transferee” is the business that will be taking over a Lease and the Equipment under that Lease. The "Transferor" is the current Lessee under a Lease. The Transferor is offering its Lease and Equipment for someone else to take over. The basic steps in the process from the perspective of the Transferee are set out in the in The Lease Transfer Process above.

We have also provided some tips and guidance below for how to use ReLease Market’s website, experience and Lease Transfer Experts to ensure a smooth Lease Transfer.

Searching for a Lease/Equipment

Each Transferee has its own needs and preferences to consider. Some are focused on finding the exact type of equipment (e.g. manufacturer, model, specific features, age, hours of use, etc.), while others are more interested in the details of the Lease (e.g. monthly Rent, Purchase Option Price, remaining Term, etc.). ReLease Market provides you with the ability to search and filter by all of these factors and more. Go to our Browse Listings page and start your search.

If you have not been able to find the perfect match, you can Register as an Interested Transferee and tell us specifically what type of Equipment and/or Lease you require by completing the “Searching for” section. You can complete any or all of the fields; the more information you give us, the better we will be able to accurately match you with a Lease and Equipment. ReLease Market will notify you if we have a close match or if we receive a new Listing that matches your criteria.

Also, our Lease Transfer Experts are standing by to help with the process at any time. Click here to contact us.

Contacting Transferors

As soon as you find the right match, we suggest that you contact the Transferor. There are thousands of interested Transferees on ReLease Market who may be looking for the same Equipment and Lease terms as you, so act fast!
Each Listing you see will have a button to allow you to Contact Transferor. If you have not already registered with ReLease Market, you will be directed to the Register as an Interested Transferee page and required to complete the “Transferee Information” section.
You will be able to send the Transferor a message of up to 400 characters through ReLease Market Messenger. The Transferor will receive the message in the email account that the Transferor provided as well as in its Account Management section.
After you have made initial contact, you and the Transferor are free to exchange contact information and to continue your negotiations outside ReLease Market. We suggest that you continue to use ReLease Market for your correspondence so you have all correspondence in the same place. If you choose to go “off-line”, make sure you keep all correspondence in a file in case you need to access it for any reason.
Note that once you have registered with ReLease Market you are good to go as a Transferee or Transferor on as many transactions as you need. You can update your information at any time by visiting your Account Management page.

Reviewing the Lease and Equipment

As a Transferee, you will be taking over a Lease contract and gaining the use of the Equipment subject to the terms of teat Lease. If you and the Transferor have come to a preliminary agreement about the terms of the Transfer, then we strongly suggest that you do not commit to anything final until you have satisfied yourself as to the following items:
- Review the terms of the Lease contract. Make sure it says what you are expecting. You can consult with our Glossary of Terms to help you understand some of the key provisions of the Lease. If you need help, our Lease Transfer Experts are standing by to help with the process at any time. Click here to contact us.
- You can ask the Transferor to verify the condition of the Equipment. This can be as simple as asking for the original invoice, the service records on a machine or a note from the manufacturer that the Equipment is in good condition and is still eligible for service under the manufacturer’s warranty coverage. For larger equipment, you might want to ask the Transferor to have an expert inspect the Equipment and provide a valuation that you can rely on. You might also want to inspect the Equipment yourself or have your expert perform the inspection.
- Compare the terms of the Lease with what you would expect for your own business. If the terms of the Lease seem quite favorable and your business is not in great financial condition, then the Lessor might not approve your Lease Takeover application. Conversely, if the terms of the Lease are less favorable than what you typically see in arranging financing for your own business, then you might consider asking the Transferor to Buyout the remainder of the Lease and sell it to you so you can arrange your own financing. ReLease Market has strong relationships with several funding partners who like all types of Equipment and who have credit appetites to deal with Lessees with almost every type of credit profile. Our Lease Transfer Experts are standing by to help with the process at any time. Click here to contact us.

Negotiate the Terms of Your Lease Transfer

Our Lease Transfer Experts are standing by to help with the process at any time. Click here to contact us if you feel the need.
Depending on the terms of the Lease, you may ask the Transferor to provide you with a Lease Transfer Incentive to make the economics of the Lease Takeover work. If the Transferor agrees, it will probably make any concessions contingent on you being approved by the Lessor to take over the Lease or even on the Transferor being released by the Lessor from any continuing obligation under the Lease.
Any agreement you make with a Transferor should be contingent on you being approved for the Lease Takeover.

The Lease Takeover Application and Approval

The Lease contract almost certainly requires that any Lease Transfer is subject to the prior written approval of the Lessor. Therefore, the Transferor should notify the Lessor as soon as you reach an agreement.
The Lessor will require a complete credit package to allow the Lessor to evaluate your creditworthiness to take over as Lessee. It is usually better that you deal directly with the Lessor so there is no misunderstanding about what information it requires. Our Lease Transfer Experts are also available to assist with the process.
The credit package will typically include:
- Your company’s complete legal name, jurisdiction of incorporation, address and time in business;
- If the amount owing under the Lease is substantial, the Lessor may require your company’s financial statements from its most recent year end plus current interim statements; and
- If the your company’s credit is not very strong, the complete legal name, date of birth, home address and social security number of the owner(s) of your business.
The Lessor might ask for an Administrative Fee to process your application for a Transfer. The Administrative Fee may be due with the credit application or it may be due upon credit approval. The Lessor incurs costs to consider the Transfer, such as its out-of-pocket costs to access credit information and the costs of internal work by its credit and administrative personnel to evaluate credit, prepare the Transfer documents, file security registrations against the Transferee and change the reference to the Lease in its systems. The amount of the Administrative Fee may differ based on the Rent amount. You can expect your Lessor to charge you between $250 and $1,000 for the complete transfer. Our Lease Transfer Experts are also available to assist you negotiate the cost of the Transfer. Who pays the cost of the Transfer is a point of negotiation between the Transferor and Transferee.
If your credit is strong, then the Lessor will probably release the Transferor in full from any obligations under the Lease. If your credit is ok but not very strong, then the Lessor might ask the Transferor to remain liable for all or a portion of your company’s obligations as Lessee under the Lease.
If the Transferor agrees to remain liable for your obligations under the Lease, then the Transferor may ask for reasonable assurances of the following:
- access to the Equipment on demand to ensure it is being properly maintained;
- reporting from the Lessor in the event there is any change in your company’s financial condition or default under the Lease;
- reporting from you about certain financial metrics; and
- the ability to take back the Equipment if the Transferor is required to make Rent payments.

What if the Lessor Declines your Transfer?

Each Lessor has certain specific market niches and expertise in dealing with lessees with specific credit profiles. Your business might be a good credit risk, but might still not fit the Lessor’s comfort zone. If your request for a Lease Takeover is declined, then you and the Transferor might want to contact our Lease Transfer Experts to explore the possibility of one of our funding partners buying out the Lease and leasing the Equipment to the interested Transferee. We have several funding partners who like your type of Equipment and who have credit appetites to deal with Lessees with almost every type of credit profile.

How to Do the Lease Transfer

Now that you have an agreement with the Transferor and the Lessor has approved the Lease Transfer, here is what you can expect. Our Lease Transfer Experts are standing by to help with the process at any

time. Click here to contact us if you feel the need.

Every Lessor has its own requirements, but in general, most Lessors will require the following documents to be completed and returned:
- Lease Transfer Agreement, sometimes referred to as a “Lease Assignment Agreement” or a “Lease Assumption Agreement”. This agreement is signed by the Lessor, Transferor and Transferee. The Transferor will be required to represent and warrant that the Equipment is in good condition and that the Transferor is not in default under the Lease. The Transferor may be required to remain liable for the Lessee’s obligations under the Lease if the Transferee’s credit is not as strong as the Transferor’s. If the Transferor is expecting to be released from any further obligations, then make sure the Lease Transfer Agreement specifically addresses this point. The Transferor will be required to assume the rights and obligations of the Lessee under the Lease.
- Insurance Confirmation. The Transferee must arrange with its insurance broker to confirm directly to the Lessor that the Equipment is now being insured in accordance with the requirements of the Lease.
- Registration forms. The Lessor will register the necessary changes the security filings regarding the Equipment and the parties to the Lease. The Transferor and Transferee may be asked to sign and return certain forms in connection with this.
- Administrative Fee. The Lessor will charge an Administrative Fee to process the Lease Transfer. Payment may be required by check, certified funds or direct debit.
- Others. Depending on the individual circumstances of your Lease or Transfer.
Each Lessor has its own policies regarding signing and returning the Lease Transfer documents. Some will require original signed documents, some may require that signatures be witnessed or even notarized, while others may accept scanned or faxed documents.
Once the Transferor and Transferee have completed the Lessor’s requirements for the Lease Transfer (i.e. signed the appropriate Transfer documents, Transferee has provided proof of insurance, both parties have paid the appropriate fees, and any other specific requirements of the Lessor), now you are ready to assume control of the Equipment. Before you assume control of the Equipment, make sure you cover off the following points:
- Get written confirmation that the Lessor has approved the Lease Transfer and has received all necessary documents and fees.
- Technically, as soon as the Transfer is complete, control and responsibility for the Equipment pass to the Transferee (who is now the primary lessee). Therefore, the Transferee will want to take the necessary steps to safeguard and take physical control over the Equipment as soon as possible.
- The Transferee should arrange for transportation of the Equipment from the Transferor’s premise so the Transferee’s. Make sure to use a bonded transport company that has experience moving this type of equipment.
- It is important to insure the Equipment during transit. Most transport companies provide insurance that covers loss or damage based on the weight of the goods being transported. The amount of such coverage would typically pay the Lessee a small fraction of the cost to replace your Equipment. We recommend that the Transferee speak with its insurance broker to arrange for adequate insurance coverage for the Equipment while it is being transported from the Transferor’s premises. Even if the distance is across the street, it is common for the Equipment to be damaged while being loaded or unloaded from the transport vehicle.
- ReLease Market has partnered with transport companies and insurance providers who are experienced and understand the risks inherent in moving large equipment. Our Lease Transfer Experts are standing by to help with the process at any time. Click here to contact us if you feel the need.

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