Assignment of Lease Agreement(s)?

[Will Schryver]

If I acquire a multifamily (2-4 units) property with full occupancy and tenants locked into a 12 month agreement, what happens in the event of a change in control? In an RE deal, can you assign the lease agreements to a new entity (i.e. my LLC)? Or will I need all tenants to sign a new lease agreement upon change in control? Depending on the response, if I can only assign the existing lease agreements, can I at least amend the current agreements with language that I'm comfortable with?

Any insight would be a huge help. Thanks in advance.

Will