diff --git a/rd-kt/rd-framework/src/main/kotlin/com/jetbrains/rd/framework/impl/RdProperty.kt b/rd-kt/rd-framework/src/main/kotlin/com/jetbrains/rd/framework/impl/RdProperty.kt
index ce1b517fc..4cf6cde68 100644
--- a/rd-kt/rd-framework/src/main/kotlin/com/jetbrains/rd/framework/impl/RdProperty.kt
+++ b/rd-kt/rd-framework/src/main/kotlin/com/jetbrains/rd/framework/impl/RdProperty.kt
@@ -77,6 +77,9 @@ abstract class RdPropertyBase<T>(val valueSerializer: ISerializer<T>) : RdReacti
                 return@advise
 
             if (!optimizeNested && shouldIdentify) {
+                // We need to terminate the current lifetime to unbind the existing value before assigning a new value, especially in cases where we are reassigning it.
+                bindDefinition.get()?.terminate()
+
                 v.identifyPolymorphic(proto.identity, proto.identity.next(rdid))
 
                 val prevDefinition = bindDefinition.getAndSet(tryPreBindValue(lifetime, v, false))
diff --git a/rd-kt/rd-framework/src/test/kotlin/com/jetbrains/rd/framework/test/cases/RdCollectionsTest.kt b/rd-kt/rd-framework/src/test/kotlin/com/jetbrains/rd/framework/test/cases/RdCollectionsTest.kt
index d5f721181..39dfef3f4 100644
--- a/rd-kt/rd-framework/src/test/kotlin/com/jetbrains/rd/framework/test/cases/RdCollectionsTest.kt
+++ b/rd-kt/rd-framework/src/test/kotlin/com/jetbrains/rd/framework/test/cases/RdCollectionsTest.kt
@@ -532,6 +532,31 @@ class RdCollectionsTest : RdFrameworkTestBase() {
         assertTrue(serverAsyncSet!!.contains(123))
     }
 
+    @Test
+    fun reassignBindableValue() {
+        serverWire.autoFlush = false
+        clientWire.autoFlush = false
+
+        val serverTopLevelProperty = RdProperty<RdProperty<RdSet<Int>?>?>(null)
+        val clientTopLevelProperty = RdProperty<RdProperty<RdSet<Int>?>?>(null)
+
+        serverProtocol.bindStatic(serverTopLevelProperty, 1)
+        clientProtocol.bindStatic(clientTopLevelProperty, 1)
+
+        val clientNested1 = RdProperty<RdSet<Int>?>(null)
+        val clientNested2 = RdProperty<RdSet<Int>?>(null)
+        val clientSet = RdSet<Int>()
+        clientNested1.value = clientSet
+        clientNested2.value = clientSet
+
+        setSchedulerActive(SchedulerKind.Client) {
+            clientTopLevelProperty.value = clientNested1
+            pumpAllProtocols(true)
+            clientTopLevelProperty.value = clientNested2
+            pumpAllProtocols(true)
+        }
+    }
+
 
     enum class SchedulerKind {
         Client,
diff --git a/rd-net/RdFramework/Impl/RdProperty.cs b/rd-net/RdFramework/Impl/RdProperty.cs
index d3ac9226c..824a03d44 100644
--- a/rd-net/RdFramework/Impl/RdProperty.cs
+++ b/rd-net/RdFramework/Impl/RdProperty.cs
@@ -9,6 +9,7 @@
 using JetBrains.Rd.Util;
 using JetBrains.Serialization;
 using JetBrains.Annotations;
+using JetBrains.Util.Internal;
 
 namespace JetBrains.Rd.Impl
 {
@@ -144,6 +145,9 @@ protected override void Init(Lifetime lifetime, IProtocol proto, SerializationCt
         
         if (!OptimizeNested && shouldIdentify)
         {
+          // We need to terminate the current lifetime to unbind the existing value before assigning a new value, especially in cases where we are reassigning it.  
+          Memory.VolatileRead(ref myBindDefinition)?.Terminate();
+          
           v.IdentifyPolymorphic(proto.Identities, proto.Identities.Next(RdId));
 
           var prevDefinition = Interlocked.Exchange(ref myBindDefinition, TryPreBindValue(lifetime, v, false));
diff --git a/rd-net/Test.RdFramework/RdCollectionsTest.cs b/rd-net/Test.RdFramework/RdCollectionsTest.cs
index 9f5463332..522c93de9 100644
--- a/rd-net/Test.RdFramework/RdCollectionsTest.cs
+++ b/rd-net/Test.RdFramework/RdCollectionsTest.cs
@@ -440,6 +440,36 @@ public void ChangeCollectionsTest()
     Assert.AreEqual(BindState.NotBound,serverSet.BindState);
   }
 
+  [Test]
+  public void ReassignBindableValue()
+  {
+    ClientWire.AutoTransmitMode = false;
+    ServerWire.AutoTransmitMode = false;
+
+    var serverTopLevelProperty = BindToServer(LifetimeDefinition.Lifetime,
+      NewRdProperty<RdProperty<RdSet<int>>>(), ourKey);
+    serverTopLevelProperty.ValueCanBeNull = true;
+    var clientTopLevelProperty = BindToClient(LifetimeDefinition.Lifetime,
+      NewRdProperty<RdProperty<RdSet<int>>>(), ourKey);
+    clientTopLevelProperty.ValueCanBeNull = true;
+
+    var clientNested1 = NewRdProperty<RdSet<int>>();
+    var clientNested2 = NewRdProperty<RdSet<int>>();
+    var clientSet = NewRdSet<int>();
+    clientNested1.Value = clientSet;
+    
+    clientNested2.Value = clientSet;
+
+    SetSchedulerActive(SchedulerKind.Client, () =>
+    {
+      clientTopLevelProperty.Value = clientNested1;
+      PumpAllProtocols(true);
+      clientTopLevelProperty.Value = clientNested2;
+      PumpAllProtocols(true);
+    });
+    
+  }
+
   [Test]
   public void PropertyTest()
   {