What is an Assignment of Tenancy during mutual exchange?

An Assignment of Tenancy during mutual exchange is when each tenant steps into the other’s shoes and takes over the other tenant’s tenancy type and terms.

An assignment can take place when both tenants have:

• an assured or secure tenancy that started before 1 April 2012
• a fixed-term tenancy

Typically, each tenant takes on the remainder of the fixed-term when they're assigned the tenancy.